'Smart Money Longing ETH After the 1011 Flash Crash' Has 'Switched to Shorting,' Giving Back $8.38 Million in Profits

BlockBeats News, November 5, according to on-chain analyst Ai Yi (@ai_9684xtpa), the 'smart money that went 25x long on ETH after the 1011 flash crash' has now switched direction to shorting, giving back $8.38 million in profits. Eight hours ago, they closed out the remaining 19,383.25 ETH long positions in batches, ultimately incurring a loss of $6.646 million. Subsequently, they opened 25x leveraged short positions, holding 18,802.51 ETH (approximately $61.45 million), currently with an unrealized profit of $1.3 million.