ETH Whale Reverses Short to Long to Buy the Dip as 174,144 ETH ($621M) Withdrawn from Binance
ETH/USDT
$15,693,801,104.01
$2,199.02 / $2,112.17
Change: $86.85 (4.11%)
-0.0002%
Shorts pay
COINOTAG News, citing ChainInfo on November 4, reports a high‑net‑worth actor that previously borrowed and shorted 66,000 ETH, earning about $23.31 million in profits and now appears to be rotating from a short to a long thesis to buy the dip in Ethereum.
Within roughly 90 minutes, the entity wired $91.2 million in USDC to Binance and has just withdrawn 110,000 ETH (≈ $386 million) from the exchange, signaling intensified on‑chain liquidity flow.
After earlier covering the short by repaying 64,000 ETH, the group has since drawn a total of 174,144 ETH (about $621 million) from Binance within the last 24 hours, underscoring sizeable repositioning activity rather than speculative bets.