Shorting at highs for half a year earned 48 million. Is this wave of reducing short positions a stop-loss or rebalancing? Seeing the -32% floating loss, it feels like the big player is also toughing it out.

CoinWorld news: A short trader named mu recently reduced 484.77 short positions, worth approximately $1,209,537.82. Its position size is $11,893,024.70, with an average price of $774.99. The current profit and loss on this short position is -$2,700,864.13, and the loss ratio is -32.92%. The current price is $1,002.70, and the liquidation price is $1,613.80. This address was previously the largest short seller of ZEC in the crypto market. Recently, it has favored setting up short positions at higher levels in the US stock market, with profits exceeding $48 million in half a year.