Ethereum Short Position Yields Significant Profit Amid Market Decline

According to Odaily, on-chain analyst Yu Jin has reported that a particular swing trader's short position in Ethereum (ETH) has resulted in a floating profit of $2.45 million. Earlier, in the early hours of the 7th, this position was experiencing a floating loss of nearly $5 million. However, due to the recent market downturn over the past two days, the trader has turned the loss into a profit. Currently, the position shows a floating profit of $2.45 million. If the trader had not reduced half of the position by yesterday morning, the floating profit would now be $4.9 million.