ETH rebounded more aggressively than BTC, and short sellers are losing badly; the long side couldn’t salvage it either. Turns out high-leverage hedging can get wiped out like this.

ETH-3.39%
BTC-2.24%
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CoinNetwork
According to Coin World news, on-chain analyst AI Yi monitoring shows that the address 0xf83 holds 12,832 ETH 20x long orders and 366 BTC 20x short orders, with the value of each coin at approximately $240 million. As Ethereum rebounded more strongly than Bitcoin, this address is short ETH at an unrealized loss of $4.07 million, and long BTC at an unrealized profit of $216,000, for an overall unrealized loss of about $3.856 million.
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