A certain whale missed out on a $10 million profit, sold short on BTC, and lost $2.47 million. They then spent 43.36 million USDT to buy ETH and are currently facing an unrealized loss of $1.66 million.

BlockBeats News, May 31st, according to on-chain analyst Yu Jin's monitoring, a whale bought the dip in late March at a price of $85,751 per BTC, which would have resulted in a profit of over $10 million if held until now. However, in mid-April, the whale panic sold at $84,426, only to see BTC surge to $110,000 a few days later.

After selling the spot positions, the whale also borrowed 124 WBTC at a price of $84,558 for a short sale. These 124 WBTC were bought back to repay the loan at a price of $104,444 10 hours ago, resulting in a loss of $2.47 million.

After repaying the short position, the whale used 43.36 million USDT to buy 16,638 ETH at an average price of $2,606. The current ETH price has dropped $100 below his purchase price, resulting in an unrealized loss of $1.66 million.