Whale Loses $35.84 Million on ETH Longs, Switches to $122 Million Bitcoin Shorts
EmberCN data shows the whale, after $43.33 million in losses from ETH and BTC trades, has shifted to a $24.5 million ETH short position with significant liquidation risk.
BTC
ETH
Fact Check
All three provided sources, while being duplicates of the same article, directly and consistently support the statement's claims. They all state that a crypto whale lost $35.84 million on ETH long positions and subsequently opened a $122 million short position on Bitcoin. The confidence is high because the evidence fully supports the statement, but it is not 1.0 due to the lack of independent, diverse sources.
- Reference: 1
Summary
On September 17, EmberCN reported that a whale incurred $35.84 million in losses from longing ETH and $7.5 million from shorting BTC, totaling $43.33 million over the past month. Now left with under $1 million, the trader closed all BTC shorts seven hours ago and opened a new ETH short of 5,432 ETH worth about $24.5 million at $4,485, with a liquidation price of $4,594. The update underscores ongoing high-risk leveraged trading by the whale despite heavy prior losses.
Terms & Concepts
- Whale: A market participant who holds or trades large amounts of cryptocurrency, often capable of influencing price movements.
- Short Position: A trading strategy where an investor bets on the decline in the price of an asset, profiting if the price falls but incurring losses if it rises.
- Liquidation Price: The specific asset price at which a leveraged position is automatically closed by an exchange to prevent further losses.