A new address just deposited 3.82 million USDC and immediately opened a nearly $20 million $ETH 20x short position. This kind of position sizing is very aggressive. It doesn't mean $ETH will definitely fall, but it at least indicates that someone is waiting for increased volatility, and short-term sentiment may be suppressed. This level is better suited for watching whether the shorts continue to add to their positions rather than treating it as a trend conclusion. $ETH