Address "Ultimate Short" Trims BTC Short on Feb. 3, Realizes $2.32M Profit on $5.46M Exit

An address dubbed "Ultimate Short" trimmed its BTC short position in the past 6 hours on Feb. 3, realizing about $2.32M on a $5.46M close-out, Coinbob on-chain monitoring data show. From a $136M peak since November, its short size is down about $120M; it still holds about $8.6M with unrealized gains of $3.65M (850%) at an average entry of $111,500. The wallet has taken profit five times and placed orders near BTC prices of about $76,200, while funding-rate settlements since May 9 total about $10M, per the same source.