Crypto Trader 0xcB92 Doubles Short Position on Ethereum Amid 47% Profit Drop

Coin WorldWednesday, Jun 25, 2025 1:54 am ET
1min read

Renowned crypto trader 0xcB92 has significantly increased his short position on Ethereum, now holding 50,000 ETH, which is valued at approximately $122 million. This move comes despite a notable decrease in unrealized profits, which have dropped from $26 million to $13.9 million. The trader's decision to double down on his short position indicates a strong conviction in the further downside of Ethereum's price.

0xcB92's strategy involves adding another 10,000 ETH to his existing short position, bringing the total to 50,000 ETH. This aggressive move signals that the trader believes Ethereum has not yet reached its bottom and expects further declines in its price. By holding through the dip and increasing his short position, 0xcB92 demonstrates a high level of confidence in his bearish thesis, despite the risks involved.

The trader's decision to maintain and expand his short position, even as unrealized profits decrease, suggests a long-term perspective. This approach contrasts with other traders who might have taken profits and exited the position. 0xcB92's strategy is based on his track record of timing market entries and exits with precision, often shorting near peaks and taking long positions during dips. This has resulted in consistent gains in past market cycles.

However, such an aggressive shorting strategy is not without risks. If Ethereum were to rebound sharply, the position could quickly reverse, putting millions at risk. Market watchers are closely observing the situation, as a large short position can influence market sentiment and price action. The outcome of this move will depend on Ethereum's price direction in the coming days, and traders and analysts are eagerly awaiting the results.