Whale shifts to short: after liquidating $413 million, the strategic counterparty doubles down on short positions

【BlockBeats】Another dramatic reversal.

According to on-chain data monitoring, a strategic counterparty address completed a impressive liquidation on January 14th — first clearing $413 million in long positions, directly pocketing $14.5 million in profit. Then they changed their mind and turned to short.

This entity is not playing small. Currently using 20x leverage to heavily short, with a position size of: 315.89 BTC (equivalent to $30 million), 901.85 ETH (about $3 million), and 13,800 SOL (about $2 million). The account is currently facing slight unrealized losses, but that’s clearly not what they are truly concerned about.

Even more interesting is the operational logic of this address. During a previous cycle when a major player was continuously increasing BTC holdings, this entity had already begun establishing short positions in BTC and ETH. At that time, their holdings reached $120 million, once becoming the largest BTC short on a major leveraged trading platform.

From long to short, from bullish to bearish — stories in the trading world always flip like this. Whether this is risk hedging or a genuine judgment on the market’s future, only these big players probably know for sure.