A high-leverage Ethereum short position recently reduced its exposure by 3,615.9 ETH, incurring a loss of $69,000. The position now stands at $87.06 million, equivalent to 22,271.47 ETH, with an unrealized profit of $390,000. The entry price was $3,926.95, and the liquidation price is $3,964.83, leaving only a $55 margin from the current mark price. This narrow margin has led to partial liquidations and reductions, as minor price fluctuations significantly impact the position's stability.