Woofun AI on-chain data shows a significant market participant expanded its bearish stance following an ETH price rebound. The entity borrowed 9,000 ETH from the Aave protocol, transferred the assets to Binance, and executed a sale worth 16.37 million USDT. This address has now accumulated a total short position of 44,000 ETH, valued at approximately 78.89 million USD, with an average entry price of 1,702 USD.

Concurrently, rising ETH valuations have pushed the position into a 3.08 million USD unrealized loss, highlighting the risks associated with leveraged shorting in volatile markets.