PANews reported on June 24 that according to monitoring by on-chain analyst Yu Jin, a whale closed its BTC and ETH short positions at the lowest point before the rebound at 1 a.m., and then bought ETH spot.

He basically closed his short orders worth $62.8 million at the lowest point before the rebound: BTC closed at around $101,400 and ETH closed at around $2,224. These short orders earned him $3.07 million.

After closing his position, he bought 6,037 ETH with $13.88 million, at an average price of $2,299. Now he has a floating profit of $720,000.