ETH Short Reduced, but Whale Still Holds 89,200 ETH
Odaily monitoring reports show a profitable crypto address has reduced its ETH short exposure, but still holds a substantial bearish position. An earlier report said the trader cut about $10.35 million of its ETH short between 21:37 and 22:01 UTC+8 on 17 October 2026, taking a loss of around $207,000 on the closed portion; the position was still worth about $198 million by 22:11. A later report put the address’s cumulative trading profits at about $211 million and said it closed roughly $4.61 million of ETH shorts, with about 89,200 ETH still short. The later report cited an average closing price of $2,286.21. The reports may reflect different monitoring snapshots, so the reductions should not be added together. The partial ETH short reduction eases this trader’s bearish exposure, but the remaining position is sizeable and does not confirm a broader change in ETH’s market direction.
Neutral
The reports indicate a partial reduction in a large ETH short, which may modestly ease immediate bearish pressure and could prompt some short covering if other traders follow. However, the address still has a substantial short position, and the reported reductions come from different monitoring snapshots and should not be treated as a single cumulative figure. One trader’s position change does not establish a broader shift in ETH positioning, spot demand, or market trend. In the short term, the news may influence sentiment and volatility but offers no decisive price signal; over the longer term, ETH’s direction will depend more on broader market conditions, liquidity, and sustained changes in derivatives and spot-market flows.