According to on-chain analyst Yu Jin's monitoring, ETH wave giant whales chose to cut their losses 5 hours ago, closing half of their short positions, spending 36.12 million USDT to buy back 10,531 ETH at a price of $3,430, and repaying their loans. Their average short cost is $3,458, which means the positions they closed realized a loss of $124,000. They currently still hold a short position of 11,088 ETH (37.85 million USD).