On February 3, on-chain monitoring data showed that a well-known Bitcoin whale, often referred to as the “Ultimate Shorter,” closed part of its BTC short position within a six-hour window, securing approximately $2.32 million in realized profit. The portion closed represented a position size of roughly $5.46 million, continuing a pattern of systematic profit-taking rather than a full exit.
Since November, this address has executed at least five similar reductions near local market lows. Instead of covering its entire exposure, the strategy has focused on trimming positions while maintaining downside exposure, with take-profit levels repeatedly placed around the $76,200 price zone.
BTC Short Exposure Reduced Significantly
At its peak, the whale’s Bitcoin short exposure reached about $136 million. That figure has now been reduced by approximately $120 million, signaling a gradual wind-down of risk. Despite the reductions, the address still holds an active BTC short position valued at around $8.6 million.
Funding Rate Gains Add to Returns
Beyond price-based profits, the whale has also benefited from derivatives funding mechanics. Since opening this round of Bitcoin shorts on May 9, the address has collected close to $10 million in funding fee settlements, further boosting total returns.
The ongoing reduction suggests a shift toward capital preservation, as the trader continues to lock in profits while maintaining flexibility amid changing market conditions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.