On-chain data platform Arkham reports that a user known as 'sat0shi777' holds an Ethereum short position worth nearly $90 million with a liquidation price of approximately $1,674. ETH has surged nearly 5% in the past 24 hours, bringing the current price within 1.5% of the liquidation level. The user also maintains a $30 million BTC long position as a hedge, but the hedge is far smaller than the short exposure, leaving significant downside risk.
Large ETH Short Position at Risk of Liquidation
According to on-chain analytics platform Arkham, the Ethereum short position held by user sat0shi777 is facing significant liquidation risk. The short is valued at approximately $90 million, with a liquidation price set at around $1,674. As of now, ETH has risen nearly 5% over the past 24 hours, and the current market price is only 1.5% above the liquidation level. If the price continues to rise, the position will be forcibly closed.
Notably, the same user also holds a $30 million Bitcoin long position as a hedge. However, the hedge is far smaller than the short exposure, leaving a net bearish risk. Should ETH break higher and trigger liquidation, it could not only cause a significant loss for the user but also introduce short-term volatility to the broader market.
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