I saw that pension-usdt.eth just made an interesting move in recent days. This whale trader is increasing their bearish bets on ETH, adding $41 million in short positions with 3x leverage. The interesting part is that they already held a fairly substantial short position before this.

In total, between BTC and ETH, this whale has approximately $107.5 million in USDT locked in short positions. It's a quite aggressive move considering the leverage they are using. It seems they are very confident that the price will fall. With such large amounts of USDT committed, any price movement against them could trigger significant liquidations.