Baleia Takes Profit on May Short Position with New Liquidation of $2.32 Million

A large Bitcoin whale continues to execute a consistent profit-locking strategy on its short position established in May. Over the past six hours, the address liquidated another portion of these short positions, realizing approximately $2.32 million in profit, according to data compiled by ChainCatcher. The liquidation scale reached $5.46 million, reinforcing the behavioral pattern this wallet has maintained since establishing the short position in May.

From May to Today: Nine Months of Systematic Operations

The short position cycle initiated on May 9 represents a remarkable risk management and profit-taking trajectory. During these months, the operator has demonstrated a significant shift in strategy: from an initial approach of buying lows and selling highs, it has evolved into a system of continuous profit realization without re-entering positions. This tactical transformation reflects a sophisticated understanding of Bitcoin’s market cycles.

Five Profit Locking Rounds Since November

Since November, the address has executed five distinct gain-locking operations at local minima, maintaining impressive discipline by not restocking its short positions. The most recent liquidation round occurred at a BTC price of approximately $76,200, demonstrating persistence in capturing profits at specific resistance levels. Each operation was strategically calibrated, suggesting technical analysis or on-chain signals closely monitored.

Cumulative Reduction of $120 Million Since the Peak

The overall picture of the whale’s operations reveals a significant reduction in its short positions. Compared to the previous peak of $136 million in short exposure, the current position reflects an accumulated decrease of about $120 million. This movement represents a deliberate de-risking strategy—gradually reducing exposure while locking in gains along the way.

850% Gain on the Remaining Position

Currently, the wallet still holds a short Bitcoin position worth $8.6 million, with an unrealized gain of $3.65 million, equivalent to an impressive 850% return, calculated at an average entry price of $111,500. This extraordinary level of unrealized profit demonstrates the wisdom of the timing chosen to establish the short in May, capturing a trend of significant magnitude.

Refined Strategy: From Timing to Gain Discipline

The consolidated behavior of this whale since May illustrates a clear tactical evolution. Where there was once flexibility to restock positions, there is now relentless focus on turning floating gains into real profits. The five profit-locking operations since November represent not only opportunity capture but a commitment to active risk management—a pattern that many market analysts continue to monitor closely.