Crypto Whales Shift Ether Positions via Multi-Million Dollar Derivatives Bets

Large cryptocurrency traders are aggressively shifting their Ether derivatives exposure following substantial profit-taking. On October 30, address 0x15a4 built a 20,000 ETH short position valued at about $44.6 million at an average entry price of $2,228.12, following an initial 13,000 ETH leveraged short worth $29 million. The bearish pivot came after the trader secured $17.8 million in net profits by closing long positions in 1,000 Bitcoin and 10,000 Ether held over four months. Concurrently, another whale reversed direction on October 29, closing a $61.01 million Ether short and establishing an $11.87 million long position.