ETH Short Position Holder Records $7.5M Swing from Profit to Loss

Address 0x218 swung from a $5 million profit to an approximately $2.49 million unrealized loss on its ETH short position as of December 5, HyperInsight data show. The position, sized at $51.72 million with an average entry of $3,005, was significantly increased on December 1 when ETH traded at $2,810. The address previously closed a counter-position against a high-profile whale in mid-November, generating $5.08 million from $5 million capital within two weeks, marking its second short position with total account profit standing at $2.8 million.