According to Odaily Planet Daily, on-chain analyst Ai Yi (@ai_9684xtpa) reports that "smart money" investors who profited handsomely by going long on ETH with 25x leverage after the "1011 flash crash" have recently completely reversed course.

About eight hours ago, the address closed out its remaining long positions of 19,383.25 ETH in batches, incurring a cumulative loss of approximately $6.646 million, erasing the previous peak profit of $8.38 million. Subsequently, the account quickly established a new short position with 25x leverage, holding approximately 18,802.51 ETH (worth approximately $61.45 million), currently showing a floating profit of approximately $1.3 million.