According to Lookonchain, ETH whale address 0x69e4 closed an ETH short position as the market rebounded, realizing a loss of over $1.58 million; source: Lookonchain on X, Sep 30, 2025. Lookonchain reports the short was fully closed by 0x69e4 with the realized loss exceeding $1.58 million, highlighting notable short-covering activity in ETH; source: Lookonchain on X, Sep 30, 2025.

According to Lookonchain, a crypto trader deposited $5.08 million into Hyperliquid and shorted Ethereum (ETH) using maximum leverage of 25x, ultimately losing $4.77 million in under 8 hours and reducing his account balance to just $310,000 (source: x.com/lookonchain). This highlights the significant risks of high-leverage trading in volatile markets and underscores the importance of robust risk management for ETH and crypto derivatives traders.