On-chain data tracking shows that around 12:16 PM today, a whale address starting with 0x322d just opened a short position on Ethereum. This short operation is quite substantial—950 ETH, with an entry price of approximately $3,011.7, and a total position value of about $2.86 million.

It is worth noting that this whale used 3x leverage to amplify gains (of course, the risk is also increased). Based on the current position, they are already experiencing a slight unrealized loss, roughly $6,433. However, considering the liquidation price set at $4,074, it remains relatively lenient, providing ample buffer space.

The establishment of such large short positions often reflects the whale's pessimistic outlook on the short-term market trend. Whether this is a precise market judgment or the beginning of a contrarian move will depend on the market performance in the coming days.