The 1011 Flash Crash Short-Seller is Doubling Down on ETH

The trader who famously profited from betting against the market during October’s dramatic 1011 flash crash is making a bold bet in the opposite direction. According to blockchain analyst Ai Yi, this sophisticated player has recently accumulated an additional 20,000 ETH, signaling a dramatic shift from bearish to bullish positioning in the world’s second-largest cryptocurrency.

Building Long Conviction: The Latest ETH Accumulation

Just days ago, this market veteran added another 20,000 ETH to his growing position, expanding his total Ethereum exposure to 223,340 coins. The timing of these purchases reflects a methodical approach to portfolio building, with the trader clearly positioning himself for upside in the current market environment. Per PANews reporting sourced through blockchain data, this represents a significant commitment to ETH’s future trajectory.

From 1011 Profits to Multi-Million Dollar Holdings

The scope of this operation is staggering. The entire ETH position now sits at $736 million USD based on current valuations near $2.97K per coin. The accumulated unrealized gains on these recent purchases stand at $29.46 million, while the trader’s total unrealized profit across his entire ETH exposure reaches $40.93 million. This level of conviction—turning bearish profits from the 1011 downturn into massive bullish stakes—demonstrates how top-tier market participants shift their positioning based on evolving market conditions.

The analyst community is watching closely as this trader continues to express his ETH thesis through action rather than words. After navigating the 1011 volatility with precision, his current accumulation strategy suggests he sees compelling value in Ethereum at current levels.