According to BlockBeats, Coinbob's monitoring of popular addresses reveals that in the past five hours, a significant investor known as the 'Ultimate Bear' has closed part of their Bitcoin short positions, realizing a profit of approximately $1.17 million. The scale of this closure is around $4.35 million. Since November, this address has executed similar profit-taking actions at local lows five times without replenishing the short positions. Compared to its peak position of $136 million at the end of October, the size of its Bitcoin short positions has decreased by about $93 million, with approximately $57 million closed this month, indicating an accelerated trend of profit-taking.
Currently, the investor still holds Bitcoin short positions worth about $43.63 million, with an unrealized profit of $12.2 million (558%), at an average price of $111,500 and a liquidation price of $102,300. Additionally, they have set take-profit orders in the range of $67,200 to $76,200 as of yesterday. Since establishing this round of Bitcoin short positions on May 9, the investor has frequently engaged in high-frequency trading, buying low and selling high. Recently, their strategy has shifted towards continuous reduction and profit-locking, with funding rate settlements yielding approximately $9.61 million in profits.
