$658K Unrealized Profit in a Single Day: Drift Hacker Shorts ETH with 20x Leverage and Longs BTC, Position Value $20 Million
Odaily Report: According to on-chain analyst Ai Yi's monitoring, the ETH/BTC exchange rate has dropped 3.56%. The Drift hacker (0x45d…c00ca) opened a 20x ETH short position and a 20x BTC long position worth $20 million yesterday morning, and the related positions have generated $658,000 in unrealized profit in just one day. At 6 AM this morning, both Bitcoin and Ethereum experienced significant declines, after which Bitcoin rebounded more strongly than Ethereum, further expanding the position's unrealized profit.
A Drift hacker’s $20M 20x ETH short/BTC long is profiting as ETH/BTC fell 3.56%, signaling leveraged bets on ETH underperformance; because this adds ETH derivative short pressure while abnormal high leverage raises liquidation and manipulation risk, ETH is short-term bearish (weak), with limited broad crypto read-through.