On-chain "gambler" shorted BTC and ETH eight times within two days, incurring $3.28 million in cumulative liquidation losses.

According to on-chain analytics platform Lookonchain (@lookonchain), on-chain address 0x004E attempted to short BTC and ETH eight consecutive times over the past two days, with each attempt resulting in liquidation, accumulating losses of approximately $3.28 million. Previously, this address opened short positions worth roughly $81.6 million, including 20,000 ETH (approx. $45.69 million) and 500 BTC (approx. $35.93 million), with liquidation prices set at $2,327.03 for ETH and $72,755.85 for BTC. All of the aforementioned short positions have now been completely forcibly liquidated.