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Whale closes position as ETH rebounds to $3,000: a $390,000 short liquidation
【Blockchain Movement】A major holder recently placed an order to cover their short position. On-chain analyst Yu Jin detected that this individual borrowed 5000 ETH a month ago to short, and as ETH continued to rise, they finally decided to cut losses and exit.
The time was January 2nd. At that point, ETH had already surpassed the $3000 mark. This whale chose to withdraw 4830 ETH (worth approximately $14.75 million) from a major exchange to the chain to close the position. Looking back at the ledger, this short trade ultimately resulted in a loss. On December 5th last year, when ETH was at $3132, they borrowed coins to short. Today, they bought the coins back at a price of $3054. Roughly calculating, this round of operation ultimately made a profit of $390,000.
It seems to be a precise exit point—confidently cutting losses when the price rebounded above $3000. This trade once again reminds us that the flow of funds from major players often reflects subtle market changes.