On-chain monitoring data today captured an interesting move. An address labeled "Pension Whale" (pension-usdt.eth) made a significant adjustment to its ETH short positions between 16:32 and 16:41—reducing 2,083 ETH in a single transaction, worth approximately $6.51 million.

After this operation, the address's short position size has noticeably decreased. As of now, the remaining short position is valued at $2.91 million, with an unrealized profit of about $10,600. Interestingly, this is not a complete liquidation—the on-chain data also shows that the address has an open short order of approximately $377,000 that has not yet been filled.

Recently, ETH has experienced considerable volatility, and such large position adjustments often attract market attention. Especially for a typically cautious address like this "Pension Whale," a sudden reduction in shorts has led to two interpretations: one views it as a typical profit-taking move, while the other sees it as an early positioning for a potential short-term trend reversal.

However, based on on-chain data, the remaining positions plus the unfilled order are still in place, indicating that the whale has not fully exited. The next moves will likely depend on further on-chain data developments.