PANews reported on January 19th that, according to on-chain analyst Yu Jin, a "rollover trader" used a $1.8 million profit from his ETH short position to open a $52.48 million BTC short position. His initial capital of 3 million USDC is now used to open a $152 million short position, with an effective leverage of 35x and very close liquidation prices. His current position is as follows:

• A short position of 31,093 ETH (US$99.87 million) was opened at US$3,270 and closed at US$3,264. The unrealized profit is US$1.8 million.
• A short position of 563 BTC ($52.48 million) was opened at $92,623 and closed at $96,057. The unrealized loss is $280,000.