A major player is closing short positions with a profit of $7.17 million, signaling a change in the market stance.

Over the past twenty minutes, a significant counterparty has completed a mass reduction of its short contracts on major crypto assets. According to the analytical platform Hyperbot, the address has realized a profit of approximately $7.17 million, while simultaneously reducing its total portfolio to $31.78 million. The operation involved positions in Bitcoin (BTC) worth $92.38K, Ethereum (ETH) valued at $3.14K, Solana (SOL) trading at $141.99, XRP at $2.07, as well as more exotic assets including BONK, SUI ($1.80), and FARTCOIN ($0.37).

This counterparty’s history began back in December of last year, when the address started systematically opening short positions. At the peak of its activity, the short position in BTC exceeded $120 million, allowing this player to take a leading position among on-chain bears. Over several months, the counterparty actively increased its bets against major cryptocurrencies, especially focusing on BTC and ETH.

Notably, this strategy shows a sharp divergence from the behavior of large institutional investors, who during the same period continuously increased their positions in Bitcoin. Closing these positions presumably reflects a tactical reassessment of the market situation by this counterparty, possibly related to changes in volatility or technical analysis signals.