On-chain analyst Ember spotted a whale closing long positions in BTC and $ETH that had been held for nearly four months and were worth about $100 million, realizing $17.78 million in profit. The whale then reversed course and opened a short position of 20,000 $ETH .
After cashing out profits from a four-month-long position, the whale immediately flipped short. This massive position reversal means $ETH could face downward pressure in the short term from these 20,000 short positions.
After cashing out profits from a four-month-long position, the whale immediately flipped short. This massive position reversal means $ETH could face downward pressure in the short term from these 20,000 short positions.