PANews reported on January 27th that, according to on-chain analyst @ai_9684xtpa, the "whale that opened short positions after the 1011 flash crash" (address 0xcA0…b2998) withdrew another 30,000 ETH (US$87.81 million) from Binance three hours ago. Since yesterday, it has accumulated 148,000 ETH from exchanges, with a total value of US$427 million. As of now, it has borrowed US$240 million in stablecoins from Aave for cyclical long positions, with a health score of 1.49 and a liquidation price of US$1953.09.

Furthermore, this whale appears to be gradually reducing its long positions and converting them into spot trading. Its actions on Hyperliquid last night were as follows: reducing its ETH holdings by 14,000, resulting in a loss of $3.624 million; and reducing its BTC holdings by 427.28, resulting in a loss of $1.612 million. It has now reduced its long positions to $680 million, with a paper loss of $47.97 million.