According to on-chain data analyst Yu Jin's monitoring, the whale who has consistently shorted Ethereum since January 2 officially closed this short position last night (9), achieving a profit of $2.79 million, marking another victory. His multiple swings have cumulatively profited over $10 million, with a win rate as high as 83.3%.
Recently, affected by multiple factors such as the potential rate cut expectations from the Federal Reserve, Trump's potential tariff policies after taking office, and persistent inflation, both the US stock market and the cryptocurrency market have been in decline. Bitcoin briefly dropped to $91,200 this morning (10), and Ethereum reached a low of $3,157.
Ethereum swing whale achieves another great victory
However, just as the investors in the market were lamenting, on-chain data analyst Yu Jin monitored that the whale who has consistently shorted Ethereum since January 2 officially closed this short position last night, achieving a profit of $2.79 million, marking another victory:
The specific process of going short on Ethereum this time is:
He started borrowing ETH from Aave and selling short on the 2nd, and through continuous margin increases, he ultimately shorted 21,600 ETH at an average price of $3,458, with the total position value reaching up to $120 million;
However, the market was good a few days ago, with ETH continuously rising, and eventually surged to $3,700 early on the 7th, at which point his short position had already incurred a floating loss of $5 million, with a health ratio of only 1.1. If ETH broke $4,000, his position would be liquidated;
The market experienced a reversal on the evening of the 7th, with the overall market declining. His position returned to breakeven early on the 8th, and after returning to breakeven, he closed half of his position to prevent further losses if ETH continued to rise;
Today (9), the market continued to decline, and he closed the other half of his position, ultimately turning a floating loss of $5 million into a profit of $2.79 million.
According to statistics from Ai Yi, this whale started to engage in swing trading for the first time in April last year, completing a total of 24 swings, with losses only occurring in the following four swings last year, achieving an 83.3% win rate and a cumulative profit of an astounding $10.842 million.
From August 12 to September 2
From September 29 to October 24
From November 12 to 19
From December 20 to 30
Go long on Ethereum again
It is worth mentioning that shortly after closing the short position, this whale entered the market again last night, starting to go long on Ethereum, which has made many investors eager to follow, shouting 'I want to buy with him', 'Just follow his trades'...
On the other hand, if this whale's judgment is still correct this time, it may mean that the market has bottomed out.
