The "whale that went long on ETH 25 times after the 1011 flash crash" has switched to shorting, giving back over $8.38 million in profits.

According to Odaily Planet Daily, blockchain analyst Ai Yi (@ai_9684xtpa) reports that "smart money" investors who profited handsomely by going long on ETH with 25x leverage after the "1011 flash crash" have recently reversed course. About eight hours ago, the address closed its remaining 19,383.25 ETH long positions in batches, incurring a cumulative loss of approximately $6.646 million, erasing its previous peak profit of $8.38 million. Subsequently, the account quickly established a new 25x leveraged short position, holding approximately 18,802.51 ETH (worth approximately $61.45 million), currently showing a floating profit of approximately $1.3 million.