A swing whale trader made a $7.42 million profit by selling ETH spot, but is now facing a $9.44 million unrealized loss from shorting ETH

According to Jinse Finance, Ember monitoring reports that a trader with an 81% win rate in swing trading ETH and BTC transferred 5 million USDT to an address that opened an ETH short position five hours ago to supplement margin. Data shows that the trader began shorting ETH at $2,969 on July 12, and subsequently liquidated their ETH spot holdings at $3,051 on July 14 (UTC+8). The sale of ETH spot generated a profit of $7.42 million, but the current ETH short position is showing an unrealized loss of $9.44 million.