According to Lookonchain, trader 0xcB92 has deposited an additional 3.37 million USDC to expand his short position on Ethereum (ETH), bringing his total position size to 40,000 ETH, equivalent to $114 million. The trader currently faces an unrealized loss exceeding $2.5 million and will be liquidated if ETH rises to $2,938.2. This large leveraged short position may increase volatility in the ETH price near the liquidation level, creating a key area of interest for traders monitoring potential short squeezes and rapid price movements. Source: Lookonchain on Twitter.