A major cryptocurrency trader identified as 0x50b3 is dangerously close to liquidation on a $90.1 million short position in Ethereum, with the liquidation price only $13 away from current trading levels. The trader opened the position at an entry price of $1,541 with 23x leverage, setting liquidation at $1,676, while ETH currently trades near $1,663 according to on-chain monitoring data.
The whale simultaneously maintains a $28.8 million long position in Bitcoin using 20x leverage, entered at $62,728 with a liquidation level at $59,982. This split strategy exposes the trader to significant directional risk across both major cryptocurrencies, with the Ethereum position representing the more immediate threat given the narrow margin to forced closure.
A minor price movement in Ethereum could trigger a cascade liquidation of the short position, potentially forcing the trader to absorb substantial losses. Such a liquidation would likely inject liquidity into the market and could influence price action in the short term, particularly if the position unwinds during periods of lower trading volume.