Whale 0xa523 Suffers $36M Loss on ETH, Switches to BTC Short Position

Gate News bot message, A prominent whale trader identified as 0xa523 has closed all Ethereum (ETH) long positions, resulting in a loss exceeding $36 million. Following this closure, the trader immediately transitioned to a short position on Bitcoin (BTC) with 25x leverage, establishing a position of 1,107 BTC valued at $122.4 million.

According to Lookonchain's earlier report, the whale had previously experienced significant losses, closing a long position of 41,931 ETH ($179.4M) at a $10M loss just 5 hours prior. The trader's pattern of opening long positions at market highs and closing at lows has resulted in accumulated losses surpassing $30 million in a single week.