This address has appeared again: Short-term liquidation and shorting nearly $10 million worth of BTC.

【Blockchain Rhythm】There is an interesting phenomenon. According to on-chain data monitoring platforms, a wallet address labeled as “30 failed attempts at going long but keeps fighting” has made a move again—this time targeting a short position on BTC.

The event occurred on January 12th. The actions of this address (0x8d0E) within just a few minutes are quite intriguing. First, it opened a short position of 69.34 BTC at approximately $91,091.7. It seemed to be testing the waters. But just four minutes later, as the price dropped, this user immediately added to the position—another 31.56 BTC short, worth about $2.842 million. The speed and execution suggest they are serious.

After closing the position, the total short holdings reached $9,155,300. Interestingly, after this round of trading, the average opening price was lowered to $91,022.30, with an unrealized profit of $28,900 at that time. Based on the current position, the liquidation price for this address is set at $146,687.61—leaving plenty of room for a decline.

This address’s past records show it has suffered quite a few losses on longs, but it seems not to have given up. This time, it switched strategies from long to short. What is the logic behind shorting BTC? Is it a bearish view on recent market trends, or arbitrage? On-chain data will continue to reveal the answer.