The trader who opened a $100 million short position in ETH yesterday has closed the position at a loss of $260,000 and has now switched to going long on BTC.

CoinFeed reported on May 26 that, according to Lookonchain monitoring, a trader who opened a short position in ETH worth over $100 million yesterday has closed the position, incurring a loss of $260,000. He then switched to going long on BTC, opening a long position of 175.04 BTC ($13.43 million) with 20x leverage.