A prominent crypto trader, known as whale 0x69e4, has initiated a significant short position on Ethereum, valued at $54.4 million. The trade involves 13,268 ETH with a 25x leverage, setting the liquidation price at $4,399.7. This move follows a series of successful trades on the Hyperliquid platform, where the whale has accumulated $7.8 million in profits from the last four transactions.