Ethereum Whale Trader "sat0shi777" Acknowledges Defeat and Covers Short, Taking a $9.386 million Loss

BlockBeats News, July 4th, according to HyperInsight monitoring, during the recent rebound of Ethereum that fueled the surge, an on-chain whale trader named "sat0shi777" recognized the loss and closed their short position. Previously, the whale held a total of $90 million worth of Ethereum shorts, which, after four partial liquidations, amounted to $38 million. Today, the whale has closed the final position, resulting in a $9.386 million loss.

The account had previously netted a total profit of $6.75 million but is now at a loss of over $2.3 million. "sat0shi777" had conducted over 100 trades with a win rate of 90%. However, this $90 million short position on ETH has wiped out all the previous gains.