A major crypto trader linked to Fasanara Capital is nursing significant losses on their latest short bet. The account, known for running profitable strategies on Hyperliquid, currently holds $192.8M in total short positions—with their biggest play being a $116M Ethereum short that's already down $3M as prices have moved against them. Despite the recent drawdown on this particular position, the track record of this trader suggests this kind of volatility is just part of the game. The concentrated ETH short position underscores how aggressively positioned some institutional players are betting on a pullback in the world's second-largest cryptocurrency, even as markets continue their unpredictable swings.