Trader Faces Loss After Shorting Bitcoin

According to PANews, a trader known for frequently engaging in Ethereum (ETH) swing trades has recently opted to short Bitcoin (BTC). The trader deposited USDT, obtained from selling ETH, into Aave as collateral. Approximately nine hours ago, they borrowed 220 Wrapped Bitcoin (WBTC) and sold them at an average price of $102,366, receiving $22.52 million USDT in return. However, as the price of BTC has risen to $105,200, the trader is currently facing an unrealized loss of about $620,000.