A giant whale profited by trading both long and short positions within two days, raking in $8 million—these operation details are worth a careful read.

On May 4, this address opened a short position of 2,448 BTC at $79,903, then reversed to go long at $78,848. Today, it closed at $81,300, and the long position generated $6.23 million in profit.
This isn’t an isolated case. During the same period, another trader stopped out a $56.68 million short position, losing $1.94 million and wiping out all prior profits. “Maji” had a $76 million long floating profit of $1.96 million.
These moves point to a structural problem: the current market is highly dependent on leveraged games rather than fundamentals-driven momentum. After Bitcoin broke $80,000, the short-side liquidation intensity reached $1.328 billion, but the long-side liquidation intensity was even higher—if it falls below $78,000, it will trigger $2.048 billion in long liquidation intensity.
ETF capital continues to flow in (net inflow of $532 million yesterday), providing support, but the futures market’s high leverage also means the system is fragile. The whale’s flexible position rebalancing reflects professional funds using volatility rather than chasing trends.
The risk is that once the direction reverses, a chain reaction of liquidations could amplify the downside. $80,000 is a psychological line in the sand, but the leverage structure behind it is the real variable.
$btc