Ethereum Whale’s Short Position Leads to Significant Losses

A prominent Ethereum trader known on X as Ai has incurred substantial losses following a recent market shift. The trader repurchased 3,851 ETH at an average price of $1,816.4 for a total of approximately $6.99 million, aiming to close out a previously held short position. However, the move resulted in a loss of $29,500 as they closed their short position with 3,800 ETH. Their initial short borrowing on April 25th involved 4,000 ETH. Currently, they hold only 200 ETH in an open short position, accumulating losses totaling over $413,000 since April 22nd.