AguilaTrades Opens & Closes 25× ETH Short After $696K Loss
ETH short updates: On August 10, on-chain analyst @ai_9684xtpa observed whale trader AguilaTrades open a 25× ETH short position, increasing exposure to 20,000 ETH (~$83.7M) at $4,193 per ETH and recording a floating profit of $34K. By August 11, the ETH short had suffered a $696K net loss over 24 hours and was nearly fully unwound, leaving a residual position worth $386K. This high-leverage trading by a major crypto whale underscores significant selling pressure, increased market volatility, and potential short-squeeze dynamics as large ETH shorts are liquidated.
Bearish
The news is bearish for ETH in the short term as the whale’s large 25× ETH short amplified selling pressure and volatility. The forced unwinding after a $696K loss may temporarily reduce future sell-offs, but underscores risk aversion and potential for rapid price swings. In the long term, such high-leverage liquidations can trigger short squeezes, but overall sentiment remains cautious and downside-biased.