On January 6, 2025, an Ethereum trader known for an 82% success rate in swing trading made a significant move by closing a short position of 2,000 ETH at an average price of $3,475.59 (@ai_9684xtpa). Despite this action, the trader's remaining short position stands at 21,618 ETH, valued at approximately $79.74 million (@ai_9684xtpa). The trader's current floating loss is reported at $4.61 million, based on the latest market data (@ai_9684xtpa).

The trading implications of this move are significant. The trader's decision to close part of the short position indicates a potential shift in strategy or market sentiment. The floating loss expanded to $5.8 million when ETH reached $3,744 on the evening of January 6, 2025, highlighting the volatility and risk associated with large short positions in the cryptocurrency market (@ai_9684xtpa). The health of the main position is currently at 1.23, suggesting that the trader is still in a relatively safe position, but the exact liquidation price remains undisclosed (@ai_9684xtpa).

Technical indicators and volume data further illustrate the trader's situation. On January 6, 2025, the trading volume for ETH/USD on major exchanges was reported at 1.2 million ETH, indicating high market activity (@ai_9684xtpa). The Relative Strength Index (RSI) for ETH was at 68, suggesting that the market might be overbought, which could have influenced the trader's decision to close part of the short position (@ai_9684xtpa). Additionally, the on-chain metrics show that the number of active addresses on the Ethereum network increased by 10% in the last 24 hours, indicating growing interest and potential bullish sentiment (@ai_9684xtpa).