Further activity from the wallet shows that the whale has already begun to close portions of this short position. Transactions from just over an hour ago reveal multiple “Close Short” orders executed across several batches, liquidating portions ranging from 0.11 ETH to over 9 ETH per transaction at prices between $2,055 and $2,071. These partial closures have secured millions in realized profits, as the whale locks in gains from this remarkably timed trade.

This jaw-dropping short comes amid significant volatility in the crypto markets, with Ethereum suffering a sharp downturn alongside broader declines across digital assets. The whale’s strategic use of 50x leverage means that even small movements in ETH’s price drastically amplify profits—or losses. However, in this case, the trader’s aggressive bet has paid off handsomely, positioning them as one of the most profitable players during this downturn.

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