Analysis of the 'Ultimate Bear' Whale's BTC Short Position
According to Coinbob's monitoring of popular addresses, the whale known as 'Ultimate Bear' (0x5d2) has initiated BTC short positions multiple times since last January. Although the first three trades resulted in a combined loss of approximately $5.48 million, the most recent short position delivered an impressive profit.
To date, this position has generated around $10.05 million in funding rate gains and over $61 million in contract profits, bringing the total annual profit to $71 million. Since December 26 of last year, the address has made no adjustments and recently reduced its position significantly, withdrawing about $5 million.
Position Changes and Future Outlook
Compared to the peak holding value of $136 million in late October last year, the whale has gradually reduced its position by about $130 million. After multiple profit-taking and withdrawals, no replenishment of the short position has occurred.
Currently, the whale maintains a BTC short position worth approximately $4.4 million with 20x leverage, an average price of around $111,500, and unrealized gains of about $3.2 million, representing a return of 1470%.