AguilaTrades Open & Close 25× ETH Short After $696K Loss
ETH short update: For August 10, on-chain analyst @ai_9684xtpa observe say whale trader AguilaTrades open one 25× ETH short position, increase exposure to 20,000 ETH (~$83.7M) for $4,193 per ETH and record floating profit of $34K. By August 11, the ETH short suffer $696K net loss for 24 hours and almost fully unwound, leave residual position worth $386K. This high-leverage trading by big crypto whale show serious selling pressure, market volatility go up, plus possible short-squeeze wahala as big ETH shorts dey liquidated.
Bearish
Di news dey bearish for ETH short term because di whale big 25× ETH short dey make di sell pressure and volatility yawa. Di forced unwinding afta dem lose $696K fit hold future sell-offs small, but e still show sey people dey fear risk and quick price wahala fit happen. For long term, dis kain high-leverage liquidation fit cause short squeezes, but overall feeling still dey careful and price dey likely go down.