50,000 ETH Short Liquidated: Trader with 23 Consecutive Winning Trades Loses $24 Million

The pension-usdt.eth account, which had won 23 consecutive trades and made $49 million in profit, lost $23.9 million after its 50,000 ETH short position was completely liquidated.

According to information shared by Lookonchain, pension-usdt.eth opened a 50,000 ETH short position expecting the price of ETH to fall. While the position was worth approximately $82.36 million two days ago, the account held $4.35 million in unrealized profit.

However, in the latest development, this entire position was liquidated. During the liquidation, the total value of the 50,000 ETH position reached $106 million, while the trade resulted in a $23.9 million loss for the account. Thus, it was observed that the trader shifted from a profit to a massive loss in a short period.

50,000 ETH short position completely liquidated

Records in the transaction history show that the position was terminated through successive liquidation and closing orders. This situation revealed how quickly losses can grow in high-volume leveraged trades if the price movement goes in the opposite direction.

Prior to liquidation, the position screen showed a 50,000 ETH short amount, a position value of $82.36 million, and $4.35 million in profit. Subsequent records showed that the same trade was completely closed and the loss was realized.

The fact that this position, based on expectations of a decline, came under pressure from the opposite direction as the ETH price rose demonstrated the vulnerability of short positions once again. The development remained limited to the individual position in the pension-usdt.eth account rather than a market-wide liquidation wave.