A whale suddenly reversed its position and reduced its long ETH holdings, resulting in a total unrealized loss of $5.7 million in the account.
TL;DR
A whale reversed its trading positions, closing a BTC short and opening a long, then reduced an ETH short at a $578k loss. It currently holds large leveraged long positions in BTC and ETH, with total unrealized losses of $5.7 million.
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According to ChainCatcher, Hyperinsight monitoring shows that a whale immediately went long after stopping its BTC short position on January 5th. This morning, it reduced its ETH short position, incurring a loss of $578,000. Its current holdings are as follows: 1,569.29 BTC (approximately $142 million) long with 20x leverage, average entry price of $93,838.7, and a floating loss of $4.218 million; 11,757.76 ETH (approximately $36.94 million) long with 14x leverage, average entry price of $3,284.08, and a floating loss of $1.483 million.