PANews reported on September 13th that according to on-chain analyst Ember, a whale shorted $50.8 million worth of ETH after it broke through $4,700. Two hours prior, after ETH broke through $4,700, the whale withdrew 5.1 million USDC from Kraken as margin to short 10,796 ETH ($50.81 million). The short opened at $4,718 and was liquidated at $5,087.