Whale Sells Off 5,000 ETH at a Loss Amid Market Rebound

According to PANews, a significant Ethereum trader, known as a whale, recently closed a short position of 5,000 ETH, incurring a loss of $489,000. The whale initially borrowed 5,000 ETH from Aave by collateralizing USDT when Ethereum's price dropped to $1,917 on March 12. However, as the market experienced a 5% upward trend, the trader decided to exit the position during a market rebound four hours ago, repurchasing the ETH at $2,015 to repay the loan.