Whale Addresses Cover Significant Bitcoin Short Positions Across Crypto Derivatives Markets

Large cryptocurrency traders are unwinding substantial Bitcoin short exposure. Derivatives address 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36 closed 660.40951 BTC worth roughly $51.29 million at an average price of $77,663.88, while maintaining an open short position of 1,818.0894 BTC valued around $141 million with $149 million in cumulative profit. This follows an earlier move by address 0xfc667adba8d4837586078f4fdcdc29804337ca06, which cut its short position by 180.8 BTC, or approximately $14.1 million, leaving a residual short of 3.15 BTC and holding an estimated $31.86 million in cumulative profit.