ETH Whale’s Nearly $10M Short Profit Evaporates as Price Rebounds Toward Entry

COINOTAG News (Oct. 7) reports that on-chain analyst Yu Jin identified a whale that shorted ETH, opening scrutiny of position-level dynamics on Ethereum markets. The disclosure cites transaction-level data and public on-chain indicators.

According to the report, the whale initiated a short position on September 13 at an entry price of $4,718 for 10,796 ETH. By September 25, when ETH reached $3,815, the position showed an unrealized profit of approximately $9.75 million.

As market prices have moved back toward the original entry, most of that unrealized profit has been given back, underscoring the sensitivity of large directional trades to short-term price reversals and the importance of monitoring on-chain P&L metrics.