1.34 million profit in hand, but shorting BTC resulted in an unrealized loss of 7.36 million. Is this whale playing with fire or waiting for a black swan?

BTC-4.19%
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BlockBeatNews
"pension-usdt.eth" closed a 3x short ETH position, earning $1.34 million in profit
BlockBeats News, May 27 — According to Onchain Lens monitoring, the whale "pension-usdt.eth" closed its 3x short ETH position, earning a profit of $1.34 million.

Currently, it holds a 3x short position of 1,000 BTC, with an unrealized loss of over $7.36 million.
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