Trader Closes 22,000 ETH Short After Repeated Losses, On-Chain Data Show

A trader who switched to shorting 22,000 ETH after four consecutive losses on long positions has closed the short position at a loss about 1.5 hours ago. According to BlockBeats On-chain Detection, on-chain analyst Ai Yi (@ai_9684xtpa) reported the trader entered the short at an average price of $1,613 and exited at an average price of $1,772. The position was held for three days and resulted in a loss of $3.5 million, the analyst said.