The Ethereum price has followed Bitcoin’s lead and has seen a 10.3% price increase over the past seven days. News of BlackRock’s Bitcoin spot ETF filing with the US Securities and Exchange Commission took the entire market by surprise and also breathed new life into altcoins. For one trader on the decentralized perpetual exchange GMX, however, the news is not really good news, but rather a nightmare. Ethereum Short Seller Getting Rekt? The largest short seller on GMX is using 6.64x leverage to short Ether (ETH) at an entry price of $1,703.97. A total of $1.8 million of collateral is at stake for the anonymous trader. At press time, the position was down 77.4% for a total of -$1.416 million. As it stands, the trader’s short position of about $12 million in ETH will be liquidated when the Ethereum price reaches $1,945.18. According to a report from Chinese journalist Colin Wu, it could be the owner of rebelvarma.lens. As popular analyst An Ape’s Prologue speculates, the ETH short seller could even double down on his bet. As the a ..
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