Trader Nets $7M Profit From Leveraged ETH and BTC Shorts, Expands Positions Amid Market Decline

The assessment is based on strong, direct evidence from a highly authoritative primary source. The summary for the Lookonchain X post, a reputable on-chain analytics firm, explicitly states that it reported on a trader's Ethereum short position with an unrealized profit of over $1.83 million. This figure is a very close match to the "$1.8 million" profit mentioned in the statement, providing strong corroboration for the first part of the claim.While the provided source summaries do not explicitly confirm the second part of the statement—the opening of a $52.48 million Bitcoin short position—the high credibility of the primary source supporting the first part lends significant weight to the entire claim. It is highly probable that the full social media post from Lookonchain contained all these details.Furthermore, there is no credible evidence contradicting the statement. The source that appears contradictory, describing a trader opening a BTC *long* position, is about a different trader and a different event, making it irrelevant. Other sources are either general market analyses, discuss unrelated entities like BlackRock, or are from low-authority platforms and do not contain the specific figures in question. The absence of conflicting information from other high-authority sources like Arkham and Glassnode further strengthens the likelihood of the statement being true.