Trader Bets Big Against Ethereum: $171.7M Short Position and $10M Gain

Ethereum Trader Raises Short to $171.7M, Gains $10M

A well-known trader using the wallet address 0xCB92 just doubled his Ethereum short position to $171.7 million. As of now, the move has earned him more than $10 million in unrealized profit. Clearly, he expects Ethereum’s price to continue dropping.

However, Position Faces Liquidation at $3,634

The trader set a tight liquidation level at $3,634 per ETH. Therefore, any sudden price increase could erase the gains and fully liquidate the trade. Although Ethereum remains below that mark, the position remains exposed to market volatility.

Experts Suggest a Broader Strategy May Be Involved

Unlike retail trades, large short positions like this often support a bigger plan. For instance, traders might use arbitrage, delta-neutral strategies, or cross-market hedges. These approaches aim to balance risk across different assets and platforms.

Meanwhile, Crypto Community Remains Divided

The boldness of the move sparked heated discussion online. On one side, some traders admire the confidence. On the other, critics argue the position is dangerously overleveraged. If the market pushes upward, forced short covering could amplify the rally.

Trade Highlights Risk in Ethereum Derivatives Market

This event shows how much influence large trades can have. In fact, one aggressive bet could trigger broader price swings. Moreover, it underlines how high the stakes are in crypto derivatives. Traders like 0xCB92 shape sentiment, liquidity, and short-term momentum.

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