Rival Account Closes Ethereum Short Position Amidst Profitable BTC Holding

A significant move has been observed in the cryptocurrency market, with a rival account to Garret Jin closing its Ethereum short position. According to on-chain data monitored by Odaily, this counterparty account, known as Evaded, had established a short position on Ethereum.

The closure of this position marks a notable shift in market dynamics, particularly given the current state of the cryptocurrency market. Meanwhile, Evaded still holds a 30x leveraged Bitcoin short position, which currently shows an unrealized profit of approximately $2 million and an investment return rate of 80%.