A whale address has initiated a significant 25x leveraged short position on Ethereum, valued at $5.15 million, at an average entry price of $2,343. According to Hyperinsight monitoring, the address, starting with 0x3bc, placed a stop-loss at $2,280 after experiencing a paper loss of about 10%. The whale plans to close the position in batches as the ETH price approaches the stop-loss level.