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A certain Whale has been holding a losing position after shorting BTC for 4 consecutive times, with unrealized losses of 12.81 million USD.
BlockBeats news, on August 14, according to on-chain analyst Ai Yi (@ai9684xtpa), a Whale that has been shorting BTC continuously since March 2025 is still holding a losing position. Over two months, their 20x leveraged BTC short order went from unrealized gains of $5.74 million to unrealized losses of $12.81 million, but they earned $4.33 million through funding fees.