Data: "The giant whale that went long on ETH 25 times after the flash crash of 1011 has turned to short, giving back over 8.38 million dollars in profit."

According to on-chain analyst Ai Yi (@ai_9684xtpa), the "smart money" that had made a significant profit by going long on ETH with 25x leverage after the "1011 flash crash" has recently completely reversed its position.

About 8 hours ago, this address gradually closed its remaining long position of 19,383.25 ETH, incurring a total loss of approximately $6.646 million, giving back the previous peak profit of $8.38 million. Subsequently, the account quickly established a new short position with 25x leverage, holding approximately 18,802.51 ETH (worth about $61.45 million), with a current floating profit of about $1.3 million.