This Ethereum Whale Trader Went From A $26 Million Unrealized Gain To A $700,000 Loss In Just 1 Month

Ethereum ETH/USD is up over 4% on the day, with the surge from $2,500 to $2,800 liquidating a hitherto profitable whale trader’s massive ETH short position.

What Happened: According to Lookonchain, smart money wallet 0xCB92, known for a stellar Ethereum trading history and raking in more than $20 million in recent weeks, shorted 50,000 ETH, eventually adding another 10,000 ETH on June 25.

At one point, the trader sat on an unrealized profit of $26 million but never exited. On July 3, their profit had dropped to $6.43 million, but the trader did not close the profitable position.

Instead, Ethereum’s surge forced them to realize a $716,000 realized loss.

Crypto trader Lomah weighed in, noting that no one has a perfect record forever, and that real trading edge lies in risk management and emotional control. Losses are inevitable—but they shouldn't be catastrophic.

Trader XO shared his ETH playbook: he sold at $2,800, re-entered at $2,100, and partially exited again around $2,800. His next move depends on whether ETH holds above the 0.5 Fibonacci level.

Also Read: Bitcoin, Ethereum, XRP, Dogecoin Surge As Traders Expect ‘Final Major Leg Higher’

What's Next: Michael van de Poppe says $2,400 support has held, and now ETH is pushing higher. He anticipates a slight pullback before a run to $3,000.

Daan Crypto Trades sees ETH retesting the critical $2,800 zone, which has acted as a magnet in previous rallies. A clear breakout could open the path to more than $3,000.

$ETH Testing the big $2.8K resistance again.

This range has been very clean and these two levels have been respected extremely well over the past years.

A break above $2.8K would open the door to $3K+ which ETH has not seen since early this year. pic.twitter.com/TJmNNU140o

— Daan Crypto Trades (@DaanCrypto) July 10, 2025

Dentoshi added that ETH is at a "must-flip zone." If the breakout holds, upward-sloping EMAs and a bullish cross could ignite a full-blown altcoin rally.

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