The leading bear whale fund 「pension-usdt.eth」 initiated a close of its nearly $100 million BTC short position, reallocating the funds to short ETH.

BlockBeats News, June 3rd, according to Coinbob's Popular Address Monitor, in the past half an hour, the largest BTC short position on Hyperliquid, named "pension-usdt.eth," has initiated a profit-taking. As of the time of writing, they have reduced their position by 57 BTC, bringing the short position size down to 1343 BTC (worth approximately $90 million), with the current unrealized profit standing at around $3.23 million.

This address has redeployed the margin released from closing the BTC short position to open an ETH short position with 3x leverage. The position size has now increased to $4.6 million, with an average entry price of $1,879 per ETH, and is currently actively adjusting the orders.

It is reported that this BTC short position was opened on April 1st and has not been reduced during this period. Last night marked the first time it turned from a loss to a profit, with an initial entry price of around $69,423 per BTC, and the position size had previously exceeded $100 million.

Address: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902

At 17:08, this whale had increased their ETH short position to $7 million.