Major Bitcoin Short Whale Lowers Take-Profit Target to $75K, Withdraws $22.09M Margin in November

A whale address (0x5D2) holding a 20x Bitcoin short position opened on May 9 has adjusted its take-profit orders from the $89K-$91K range to $75K-$79K, with unrealized gains exceeding $31 million, HyperInsight data show. The address has withdrawn approximately $22.09 million in margin this month and transferred a total of $28 million to Binance wallets. The current position stands at approximately $106 million with an average entry price of $111,500, and the liquidation price decreased from $105,700 to $101,000 over the past week. This address now holds the largest BTC short position on Hyperliquid, after closing 40% of the position on Oct. 11 and realizing profits of approximately $5.17 million.