Revenge trading goes wrong as whale losses $1.88 million on ETH shorts
A crypto whale has lost approximately $1.88 million after their ETH short position failed to yield the desired result. The price of ether (ETH) has continued its bullish momentum this week. Most likely fueled by a desire to recover losses from an initial liquidation, the whale decided to double down on the short position on ether. The whale finally decided to stop the loss and closed the short position on $ETH 6 hrs ago, with a loss of ~$1.88M. The whale short ed $ETH on June 15 and continued to increase his position as the price of $ETH rose.https://t.co/DHgYPXoNov pic.twitter.com/XFrShqfat2 — Lookonchain (@lookonchain) July 3, 2023 However, the price of ETH kept soaring higher, resulting in a $1.88 million loss for the trader. You might also like: Crypto whale goes long on ETH, hinting at possible price jump Ether price analysis At press time, ETH is trading at around $1,963.44, representing a 2.4% increase over the past 24 hours and a 4.59% increase i...