Whale’s Bold ETH Short Turns into BTC Opportunity: From $2.96 Million to $250k

On May 19th, COINOTAG reported a noteworthy incident involving a prominent trader, often referred to as a ‘whale,’ whose recent trading activities have raised eyebrows in the crypto community. Initially, this **whale** invested approximately **$2.96 million**, but rapid fluctuations in the market led to a drastic reduction of their portfolio to about **$250,000** within just two days. The trader’s strategy involved taking a **25x short position on ETH**, capitalizing on lucrative market conditions. As prices moved favorably, the position increased from **2,636 ETH** to an impressive **3,487 ETH**. Furthermore, the liquidation price for this short has notably adjusted from **$2,480** down to **$2,453**, indicating a keen market awareness. This situation exemplifies the volatility and intricate dynamics present in the **cryptocurrency** sector, serving as a critical reminder for traders to approach positions with caution.