"Ultimate Bear" has been shorting BTC for nearly a year, and after three consecutive losses, this time it made a profit of $65 million.

BlockBeats News, January 23 — According to Coinbob Hot Address Monitoring, the “Ultimate Bear” whale (0x5d2) has opened BTC short positions four times since January last year. The first three trades resulted in a total loss of approximately $5.48 million, while the most recent short position has achieved significant profit. This position has currently accumulated about $9.94 million in funding rate gains, with contract profits exceeding $55.6 million, bringing its total annual profit to $65.5 million. Since December 26 last year, this address has not made any adjustments to its positions.

Compared to the peak holding of $136 million at the end of October last year, this whale has gradually reduced its holdings by about $84 million and has not replenished its short positions after multiple take-profit withdrawals. Currently, it still holds a BTC short position with 20x leverage, valued at approximately $44.5 million, with an average entry price of about $111,500, a liquidation price of $106,600, and an unrealized profit of about $11.2 million (505%).