The 'Ultimate Bear' Reduces BTC Short Position Significantly in Short Time

Data from Coinbob's popular address tracking showed that on February 5, the BTC address known as the 'Ultimate Bear' (0x5d2f...) executed multiple short reductions within less than an hour, decreasing its short position by approximately 31.57 BTC, worth around $2.24 million.

Following this round of reductions, the total value of its BTC short position dropped from $7.02 million to $4.83 million. The current floating profit is approximately $2.78 million, with the liquidation price rising to $175,229.03.

The address became well-known for establishing its BTC short position around the $120,000 level and has been consistently shorting major and altcoins. It once recorded a floating profit of up to $64 million and remains one of the largest BTC short addresses on Hyperliquid.