Whale Trader Adjusts Strategy Amid Bitcoin Short Positions

According to BlockBeats, recent monitoring by Coinbob reveals that the 'Ultimate Bear' has closed Bitcoin short positions worth approximately $5.13 million over the past four hours, achieving a profit of around $1.49 million. Since the beginning of the month, the trader has closed Bitcoin shorts totaling about $39.5 million. Currently, the Bitcoin short position stands at approximately $55.36 million, with a floating profit of $16.08 million, averaging $111,500 per Bitcoin, and a liquidation price of $99,300. Additionally, the trader has opened a new long position in XYZ contracts with a leverage of 100 times, amounting to roughly $1 million. The whale trader has been strategically buying low and selling high since initiating the Bitcoin short on May 9. Notably, since November, the trader's approach has shifted to consistently closing positions at local lows for profit without replenishing them. Since November, this strategy has been executed four times, resulting in a reduction of approximately $99 million in short positions compared to the peak in August. Over the past four months, the closing points have been recorded as follows: On August 19-20, Bitcoin was closed at approximately $112,500; On August 30, Bitcoin was closed at around $108,300; On September 22, Ethereum was closed at approximately $4,160; On October 11, Bitcoin was closed between $100,000 and $110,000; On November 25, Bitcoin was closed at approximately $87,000.