Bitcoin Whale Continues Reducing Short Positions: Profits in the Millions

In the latest activity recorded on the Bitcoin network, a significant whale has once again undertaken a systematic reduction of its open short positions. According to available data from ChainCatcher, this is a continuation of a long-term strategy that this entity has been applying since last fall. A clear shift in approach is now evident, moving from opportunistic trading to gradual and disciplined locking in of profits.

Significant Liquidation in the Range of Several Million

Over the past six hours, this whale has closed part of its BTC short positions, realizing a profit exceeding $2.32 million. According to reports from ChainCatcher, the total volume of this operation was approximately $5.46 million. The liquidation orders were placed around the $76,200 level, representing a strategic point for partial profit-taking.

What’s interesting about this move is that the whale did not buy back new short positions—clearly indicating its intention to gradually reduce exposure to the Bitcoin market. Since November of last year, this address has executed five similar operations focused solely on locking in profits without adding to its short positions.

Long-Term Strategy of Locking in Profits

The behavior dynamics of this whale show a fundamental change in tactics. At the peak of its activity in the past, this address held $136 million in short positions. Today, this exposure has been reduced by approximately $120 million—almost three-quarters of the original position. The strategy has evidently shifted from the initial “sell high, buy low” scheme to consistent profit locking.

Remaining short positions on BTC amount to about $8.6 million, with unrealized gains reaching $3.65 million (an 850% return based on the original average price of $111,500). This indicates that the whale likely entered these positions during periods of lower prices and is gradually realizing profits as market conditions become more favorable.

Remaining Exposure and Future Trajectory

Since establishing its sequence of short positions on May 9, this whale’s primary pattern has been ongoing reduction without credible replenishment. This approach suggests that the entity is not aggressively expanding its position but rather focusing on gradually closing profits and reducing market risk. Given the current BTC price around $69,500, the whale remains in a solid profit position and may continue to gradually lock in its remaining short positions at favorable price points.