ETH Whale: 23x Short Loses $4.6M in Liquidations

ETH whale address 0x50b...c9f20 suffered $4.639M loss when its 23x short position valued at $89.86M faced two liquidations plus one voluntary reduction inside thirty minutes, trimming 31,600 ETH and leaving 22,557.58 ETH worth $38.6M with an additional $4M unrealized loss and $12 margin buffer before $1,723.1 liquidation.

Price action at $1698.09 sits above the upper Bollinger Band at $1669.72 while the 50-EMA holds firm at $1614.93 and the 200-EMA at $1752.06; MACD golden cross at 15.34 keeps the broader structure bullish yet RSI at 67.07 signals room for a measured pullback toward the 50-EMA before any extension higher, typical behavior during forced short covering in leveraged ETH liquidation events.