BTC short position loss event: Insights from the whale address closing 68.95 BTC within 2 hours

【Blockchain Rhythm】There’s an interesting phenomenon. Recently, a monitored address (0x3bcae) closed a short position of 68.95 BTC two hours ago, resulting in a loss of $14,000. Currently, the address’s holdings are still mainly short positions, with an unrealized loss of about $15,000.

What’s interesting is that this address’s trading style is quite distinctive—frequent switching between multiple strategies, with a particular preference for overnight positions. In terms of risk control, it is quite strict, but the timing of this liquidation seems a bit less ideal. This kind of predominantly short-selling strategy has indeed been prone to pitfalls in the recent market conditions.