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After losing $3.26 million on a long position, he switched to shorting 22,000 ETH with 18x leverage — what is this whale betting on?
A whale address just pulled a "long-to-short" move. Previously held a long position of 21,000 ETH with 18x leverage at an entry price of $1,728.5, eventually closed after losing $3.26 million. Immediately opened a short position of 22,000 ETH at $1,613.1, still with 18x leverage, currently with a floating loss of $104k.
A few points worth breaking down:
Losing $3.26 million and still daring to go all-in on a reverse bet — if that's not emotional, what is? Large position + high leverage + reversing right after a loss — the behavior pattern looks more like a gambler trying to recover than rational trading.
Shorting at $1,613 gives extremely limited room for a stop loss. If ETH rebounds above $1,650, this 22,000 ETH short position could be liquidated at any time. Last trade lost $3.26 million, and this one could lose even more.
18x leverage means extremely low tolerance. A mere 5% move in ETH liquidates the position, and 5% is just a needle in the crypto market.
This "switch direction and keep gambling after a loss" approach — win and you're a legend, lose and you're out completely. But historical data tells us that the win rate for emotional reversals is usually not very high.$ETH #Strategy拟回购股票