The largest ETH short seller, known as “pension-usdt.eth,” has initiated a liquidation event, giving back $5.9 million in unrealized gains due to a price rebound.

BlockBeats News, June 16th, according to Hyperinsight monitoring, with the recent continuous rise of ETH, the largest short position on ETH on Hyperliquid, "pension-usdt.eth," saw a significant drawdown of $5.9 million within a week, and initiated profit-taking for the first time in the past half hour.

The address had previously shorted 60,000 ETH with 3x leverage, with a position value of approximately $107 million and an average entry price of $1810. At the time of writing, it has closed around 2135 ETH positions, with the remaining short position holding a profit of $1.24 million.

Address: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902