According to monitoring data from Hyperinsight, on January 24, the well-known short seller address (0xd475) made significant adjustments to its ETH position.
The address chose to reduce its ETH short position by 1,055.93 ETH at key market levels, realizing a profit of approximately $3.02 million at the time. Despite this partial profit-taking, the remaining short exposure still stands at a substantial $118.7 million, with a current floating profit of $11.04 million.
Turning the Tide After Major Losses
The address first gained attention for its large ZEC short position initiated when the price was around $184. At one point, the position faced a floating loss of $21 million due to unfavorable market movements. However, as market conditions shifted in line with expectations, the trader successfully turned the position profitable, demonstrating strong risk management discipline.
Market analysts noted that this partial exit may indicate a strategic position adjustment to prepare for potential market volatility, and the trader's future moves remain worth watching.