The leading bearish player "pension-usdt.eth" closed a nearly $100 million BTC short position and took profit, redirecting the funds to short ETH.

June 3rd – According to Coinbob’s Popular Address Monitor, the largest BTC short on Hyperliquid—held by the wallet “pension-usdt.eth”—is executing a take-profit move over the past 30 minutes. As of press time, the address has cut its BTC short exposure by 57 BTC, bringing its remaining BTC short position to 1343 BTC (valued at roughly $90 million) with an unrealized profit of around $3.23 million. The margin freed up from closing that BTC short is being redirected to open a 3x-leveraged ETH short. The new ETH short position now stands at $4.6 million in size, with an average entry price of $1,879, and the rebalancing is still ongoing. This BTC short was originally opened on April 1st and had not been reduced at all until now. It only flipped from a loss to a profit for the first time last night, with an average entry price of approximately $69,423. At its peak, the short position was worth over $100 million. Wallet Address: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902