23-Game Win Streak Broken by Single Trade: ETH Low-Leverage Shorts Lose $24 Million, 85% Win Rate Wastes Half a Year

According to monitoring by TradingBeats (formerly Hyperinsight), the biggest loser in the current market cycle, the whale address 0x0ddf "pension-usdt.eth", has nearly exhausted its account funds. On the early morning of August 20, it closed an ETH short position held for roughly 60 days, with a 50,000 ETH position that incurred a loss of about $23.926 million, making it the largest liquidated address on Hyperliquid in recent times. Prior to this, the whale had 23 consecutive profitable completed trades: from mid-February to mid-June this year, its positions in BTC, ETH and other assets generated a total profit of approximately $19.127 million. This single loss equals 125.1% of the gains from its previous 23-win streak, erasing all those profits and adding an extra loss of around $4.8 million. The whale opened this ETH short position on the evening of June 20, with an average entry price of about $1,648.2, and a final average closing price of roughly $2,126.7. During the holding period, ETH rose by around 29.0%, pushing the position’s notional value to $106 million. Its initial effective leverage was only about 2.3x; as unrealized losses continued to erode its equity, even this low-leverage position was forced into liquidation by the adverse market move, and it has now fully exited. Among its last 100 completed trades, the address has an 85% win rate, with 85 wins and 15 losses, 93 of which are concentrated in BTC and ETH, and a median holding period of just about 6.8 hours. This ETH short, however, was held for over 60 days, marking it the most extreme trade for this trader in both duration and single-loss amount. Since October last year, the address has posted a net profit of about $39.294 million from 99 trades. After factoring in this loss, its total profit has dropped to approximately $15.367 million, meaning this single trade wiped out 60.9% of its cumulative gains.