On January 28, market monitoring data revealed a whale's 3x leveraged short on 25,000 ETH, which is currently facing a floating loss of $1.69 million.
The short position is valued at $74.88 million, with an entry price of $2,927.33 and a liquidation price of $3,993.68.
Analysts noted that if ETH prices continue to rise, losses on this position could widen further.