Trader Profits $1M in an Hour Shorting ETH

Ethereum (ETH)’s sudden overnight drop handed one trader one of the fastest seven-figure wins the cryptocurrency market has seen this month. The wallet opened a massive 2x short position worth $18 million in ETH, timing the entry almost exactly before the price collapsed.

According to on-chain data from crypto analytics platform Lookonchain shared in an X post on December 1, within an hour, the trade was already up over $1 million in unrealized profit, instantly turning the wallet into the day’s most-watched entity on crypto social media channels.

The position size alone is attention-grabbing, with more than 6,358 ETH leveraged into a directional bet that ETH would fall sharply. Moments later, the market did exactly that. Ethereum slid from above $3,000 directly into the high $2,800s, carving out one of the steepest hourly candles of the week and triggering liquidations across the board.

While most traders were caught by surprise, pension-usdt.eth was positioned as if they saw it coming.

Screenshots of the wallet’s dashboard show the short deep in profit as ETH unwound. A one-hour million-dollar swing is uncommon even by crypto’s standards, and it immediately sparked speculation about whether the timing was luck, instinct, or informed positioning ahead of a liquidity event.

What is clear is that the wallet acted with immense size and conviction, and the payoff was almost immediate.

Trade That Reveals the Market’s Current Tension

The timing also landed during a moment of thin liquidity, amplifying the speed of the move downward. ETH funding rates had flipped, leverage was elevated, and the broader market was already showing signs of fatigue after repeated attempts to reclaim the $3,000 level.

When the drop hit, it sliced through support layers quickly enough that shorter-timeframe charts barely formed structure on the way down.

Currently, the crypto industry’s largest altcoin is changing hands at the price of $2,837.68, which represents a decline of 5.7% in the last 24 hours, an increase of 1.47% across the previous seven days, and an accumulated loss of 26.75% on its monthly chart.

This episode is a reminder of how sensitive the market remains around key psychological levels. Ethereum has struggled to maintain upward momentum, and several indicators have been flashing exhaustion before the move. Yet no indicator can replicate the precision with which this trader caught the swing.

Whether they keep the position open, take profits, or scale in further might be the next storyline to watch. For now, pension-usdt.eth has already done what most traders dream of: turning one hour into a million dollars.

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