A major BTC short seller has placed a $28.3 million order, planning to cut losses and exit once BTC rises 2%.

According to TradingBeats monitoring, a major BTC short seller placed 100 "position-reduction only" buy orders at $76,700–$76,800 at 6:30 AM today, planning to cover 369 BTC with a notional value of around $28.325 million, covering all its existing short positions. As of press time, this address holds a 5x leveraged short position of 369.058 BTC, with a position value of roughly $28.949 million and an average entry price of $73,863.9. BTC is currently trading at $78,444, meaning its short position has an unrealized loss of approximately $1.688 million, with a return of around -31%. The weighted average price of these position-reduction orders is about $76,750; BTC would need to drop roughly 2.2% from its current level to enter the order execution range. If all orders are filled, the address would still incur a loss of around $1.065 million, narrowing its unrealized loss by approximately $623,000. TradingBeats, an on-chain perpetual contract (perp) and address analysis tool, is now live, supporting real-time viewing of Hyperliquid data, tracing whale operations from addresses, and delivering comprehensive in-depth analysis.