Whales who held BTC short positions for nearly 5 months turned losses into profits due to the market crash, and now have losses exceeding $4.8 million

Lookonchain monitoring shows that the whale address 0x5D2F has held a short position in Bitcoin (BTC) for nearly five months, at one point experiencing a paper loss of approximately $27 million. While the recent market crash briefly recovered its losses and turned profitable, the address did not fully close its position. With the market recovery, its short position has once again fallen into losses, currently exceeding $4.8 million at a liquidation price of $123,260.