Recently, a notable crypto investor closed their long positions on Ethereum and Solana, incurring significant losses, and opened short positions, indicating a shift in market sentiment.
Closing Long Positions and Losses
Whale wallet 0xd85d closed its long positions on ETH and SOL, taking a loss of **$5.33 million** on ETH and **$3.72 million** on SOL. These losses signal a shift in market sentiment from bullish to bearish.
New Short Positions on ETH and SOL
After closing the losing trades, the investor opened large short positions, believing that prices for both cryptocurrencies would decline. One of the positions is **10,491 ETH**, valued at about **$38.7 million**, and another is **100,000 SOL**, worth around **$16.86 million**.
Potential Market Implications
Actions of large investors, such as 0xd85d, often attract attention from traders. Their behavior can serve as an indicator of market trends. While this change in sentiment does not guarantee price drops for ETH and SOL, it raises questions about the future short-term performance of the market.
Understanding the actions of large investors can help traders make informed decisions. It is advisable to watch for further changes in the market and investor activities.
