ETH Whale’s $9.75M Short Gains Vanish as Prices Rebound
A major whale, holding substantial positions in Bitcoin and Ethereum, is grappling with an unrealized loss exceeding $4.6 million despite adding to long positions amidst market volatility.
BTC
ETH
Fact Check
The provided evidence consistently supports the statement. All sources, originating from blockchain.news and citing @EmberCN, confirm that a trader had a $9.75 million unrealized profit from an ETH short position. The evidence explicitly states these gains were erased ('gives back') when the price of ETH rebounded to the trader's entry point. One source also uses the term 'Ethereum (ETH) Whale'.
Summary
An on-chain report reveals that a crypto whale is facing a $4.69 million unrealized loss on its Bitcoin and Ethereum long positions, after reversing a previous profit of $5.5 million. The whale holds 1,260 BTC worth $132.5 million and 19,894 ETH worth $74.44 million. Despite the losses, it has continued to add to its positions, reflecting ongoing confidence in the market.
Terms & Concepts
- Whale: An individual or entity holding significant amounts of cryptocurrency, capable of influencing market movements through large trades.
- Long Position: A trading strategy where an investor buys an asset expecting its price to increase.
- Unrealized Loss: A loss that occurs when an asset is currently worth less than its purchase price, but the position has not yet been closed or realized.