According to fresh data from blockchain monitoring platform lookonchain, a notable crypto investor placed a significant bearish bet by shorting ETH with $3M USDC three days ago. With Ethereum's price declining steadily, the position has already generated over $1.83M in unrealized profit, showcasing sharp market timing.
More notably, the trader didn't stop there. After securing substantial gains, they've increased market exposure by opening a new BTC short position worth approximately $30M. This bearish bet involves 323 BTC at 40x leverage, signaling strong conviction about potential market downturn.
This aggressive trading strategy has reignited discussions about leveraged positions in crypto markets. While high leverage can amplify returns, it also significantly increases risk exposure. The trader's future moves will undoubtedly draw continued market attention.