Following the October 11 flash crash, a significant player in the Ethereum market, identified as smart money, began reducing its 25x leveraged long position on ETH. According to on-chain analyst @ai_9684xtpa, the trader placed a limit sell order between $4,091.7 and $5,198.8. As Ethereum prices rose in the afternoon, 124 ETH were sold, netting a profit of $211,000. Despite this reduction, the trader still holds 18,357.57 ETH, with a floating profit of $5.51 million. This strategic move highlights the trader's response to market volatility and their continued significant stake in Ethereum.