Bitcoin OG Flips Bearish on Ethereum With $15M 5x Short Position

A well-known Bitcoin trader has made a sharp shift in market stance. After closing a large Ethereum long position at a profit, the trader quickly flipped bearish and opened a massive short instead. On-chain data showed that the wallet labeled as “Bitcoin OG (1011short)” opened a 5x leveraged short on 5,000 ETH. This is worth roughly $15.04 million. 

The trader entered the position near $3,001 per ETH. The liquidation price now sits at $5,056 highlighting the high-risk nature of the bet. This sudden move caught the attention of traders and on-chain analysts. It also signals a clear shift in short-term sentiment toward Ethereum.

Profitable Long Closed Just Hours Before the Flip

Just hours before opening the short, the “Bitcoin OG” trader had exited a major bullish position. Earlier data confirmed that the Bitcoin OG wallet closed a 15,000 ETH long worth $44.15 million. That move locked in a profit of about $782,500. The trader had built the position using a $10 million USDC deposit into Hyperliquid. At the time, Ethereum hovered near the $3,000 price level.

Instead of holding the long for further upside, the Bitcoin OG trader chose to take profit quickly. Then came the sudden pivot. The long was gone. The short followed soon after. This rapid reversal suggests a tactical shift rather than a long-term bet. It also shows how fast large players adapt to changing market momentum.

Why This Trade Is Grabbing Market Attention

This is not just another speculative short. The trader behind the move has a strong track record. Past trades from this wallet have consistently drawn attention due to size, timing and profit history. A 5x short at $15 million is not a casual position. It puts serious downside pressure psychology of the Ethereum market. Traders often watch these moves closely, especially when they come from wallets linked to prior successful trades.

However, leverage cuts both ways. While the downside reward can grow fast. The liquidation price shows how quickly losses could stack up if ETH rallies sharply. At the time of the trade, Ethereum traded just above $3,000. Any strong upside move toward the $5,000 range would put the position under serious stress.

Market Reaction Remains Cautious but Alert

So far, the broader market has not panicked. Ethereum continues to trade in a narrow range. Still, the move has added a fresh layer of caution to short-term ETH sentiment. Many traders now see this as a sign of possible local weakness. Others view it as a hedge against broader market volatility rather than a pure directional bet. What is clear is this. Large traders are no longer moving slowly. They are flipping positions fast. They are using leverage aggressively and are reacting to every shift in momentum.

Currently, all eyes remain on Ethereum’s next move. If the price dips, the short could quickly turn into another profitable trade. If price rallies, the market may witness another high-profile liquidation. Either way, the next few sessions could decide whether this bold bearish bet becomes a masterstroke or an expensive misread.