There is big news in the crypto world today! A whale, who is incredibly skilled in shorting ETH, has previously shorted ETH four times and won three of those times. Early this morning, he increased his short position on ETH. He now holds 70,000 ETH in short positions, worth 252 million dollars, and he is using 15x leverage.
He opened his position at a price of 3618 dollars. If the price of ETH rises to 3686 dollars, he will face a devastating liquidation. However, as it stands now, he has already made a profit of 1.33 million dollars.
To be honest, this operation is too crazy! Playing such a large position with 15x leverage means either he is confident about ETH's decline or he is just taking a huge gamble. I advise ordinary retail investors not to join in the frenzy; the risks in this kind of game between big funds are beyond what we can bear. However, this situation also shows that there are people in the market who believe that ETH will drop in the short term, and we need to pay more attention to market trends.
