The ETH whale who previously borrowed coins to short ETH now appears to have switched to going long, having withdrawn 144,255 ETH from a certain exchange.

According to ChainCatcher, on-chain analyst Yu Jin monitored that the whale/institution who borrowed 66,000 ETH to short on October 20 and bought back to repay yesterday, making a profit of $24.48 million, now appears to have turned bullish: from last night to this morning, he transferred a total of $482 million USDC into a certain exchange, and then withdrew 144,255 ETH from the exchange, with an average price possibly around $3,341.

These USDC were the collateral for his ETH short last month: at that time, he withdrew $700 million USDC from a certain exchange and used it as collateral on Aave to borrow 66,000 ETH for shorting. After repaying the ETH yesterday, he retrieved the USDC collateral and started buying ETH.