While shorting ZEC and losing money, the S&P is bullish with 70 million; is this account bullish or bearish?

CoinWorld News reports that the ZEC short position has increased by 1,041.05 coins, approximately $2,079,442.57, with the total position reaching $12,455,493.14. The average price has been adjusted from $489.90 to $494.88. Currently, the unrealized profit and loss for this short position is -$2,734,598.68, with a loss ratio of -109.77%. The current ZEC price is $634.10, and the liquidation price is $1,235.28. This address started shorting ZEC at $184, once experiencing an unrealized loss of $21 million, then turning profitable, and recently becoming the largest long position in the S&P 500, with a scale exceeding $70 million.