Crypto Whales Pivot to Bearish Ether Positions With Multimillion-Dollar Short Bets

Large crypto traders have taken substantial short positions in Ether following multi-month positioning changes. A whale realized a $17.78 million profit by closing $100 million in Bitcoin and Ether longs held since early July, immediately rotating into a 20,000-ETH short valued at $44.6 million at an entry price of $2,228. This follows another previously dormant trader deploying $96.33 million across leveraged shorts, including a 25x leveraged position on 22,050 ETH valued at $48.56 million and a 40x leveraged short on 620.71 Bitcoin, which generated $2.75 million in unrealized gains.