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This trader's recent actions are indeed aggressive. Starting last Friday, he began shorting ETH, and this guy has tasted the sweetness of profit, so he simply used the floating gains to continue shorting other cryptocurrencies. The current situation is that he is simultaneously holding short positions in 4 cryptocurrencies: BTC, ETH, HYPE, and XMR, with a total exposure of $261 million.
Even more outrageous is his capital conversion efficiency—$3 million in initial funds has been magnified to a floating profit of $11 million through rollover operations. This aggressive leverage strategy has clearly bet on the right direction in the recent market rally. However, such high-leverage shorting indeed tests psychological resilience; once the market moves against him, he will face huge drawdowns. This brother is obviously betting on continued decline, putting all his chips on the short side.