Recently, trader with address 0xcB92 has earned over $20 million by making precise moves in the Ethereum cryptocurrency market. Data is sourced from the analytics platform Lookonchain.
Trader's Information and Achievements
Analytics from Lookonchain reveal that trader operating under address 0xcB92 has pocketed over $20 million with rapid movements in Ethereum ($ETH) within a month. The trader has demonstrated skill by timing positions at local bottoms and closing them at major resistance levels, highlighting an effective trading strategy.
Trader's Current Position
At present, the trader concluded short positions that yielded $2.66 million in just 5 hours, along with approximately $1.62 million from a long position that lasted over ten days. Overall, the trader earned $112 million by closing another long position within 20 hours. After these trades, the trader now holds an equity balance of $23.3 million, clearly inclined towards short positions.
Short-Term Market Outlook for Ethereum
The trader's current orientation towards short positions suggests a possible short-term bearish outlook on the market. This may indicate that the trader anticipates a decline in Ethereum prices in the near future, as confirmed by recent trading activity.
The impressive success of Ethereum trader at address 0xcB92 highlights a high level of skill in cryptocurrency trading, while their current position may indicate upcoming changes in market dynamics.
