In the ever-evolving crypto market, a smart Ethereum ($ETH) trader has recently made a notable profit. As per the data from Lookonchain, the Ethereum ($ETH) trader going by “0xcB92” has gained up to $20M in profits with precise moves, signifying a shift in market sentiment. The on-chain analytics platform provided the details of the trader’s timely moves to get huge gains.
Genius Ethereum ($ETH) Trader Makes Timely Moves to Collect $20M
Lookonchain’s analytics disclose that the crypto trader has pocketed more than $20M with rapid Ethereum ($ETH) movements within a month. In this respect, the trader owning the address 0xcB92 perfectly timed Ethereum ($ETH) short and long positions. Particularly, on the platforms such as Hyperdash, the trader has shown a nearly flawless performance. Hence, the trader precisely timed longs close to local bottoms as well as shorts at chief resistance levels.
Keeping this in view, the performance dashboard of the trader presents a merged realized PnL of more than $20.1M in 30 days. In addition to this, the trader has also gained up to $14.8M in unrealized gains from the present short position. Simultaneously, the trader accounts for a return on equity (ROE) surpassing 152.71% without any long exposure up till now.
Trader’s Current Position Suggests Short-Term Bearish Outlook
Along with that, the recently finalized trades take into account a short that completed on the 6th of June, netting $2.66M in gains within only 5 hours, as per Lookonchain. Additionally, the trader has also closed a long position that lasted for more than ten days, resulting in a profit of approximately $1.62M. In the same vein, the trade also closed another long position from May 23, getting $112M within 20 hours. Thus, the Ethereum ($ETH) trader now holds an equity balance of $23.3M, displaying 100% inclination toward the short side. This indicates short-term bearish outlook.
