Whale Opens High-Leverage Short Position on Ethereum

On April 1, a significant market move was detected by Hyperinsight, involving a large-scale trader known for shorting, referred to as 'Silver Ironhead Bears.' According to BlockBeats, this entity opened a 20x leveraged short position on Ethereum (ETH) at an average price of $2,136, with a holding size of 9,353 ETH, totaling approximately $19.92 million, and currently showing a floating profit of $60,000, or 6%. In addition, the trader has set up sell orders in the price range of $2,180 to $2,300. If the ETH price reaches this range, they plan to incrementally add another $20 million in short positions at higher average prices to further pressure the market. The combined potential short position could approach $40 million.