According to @lookonchain, as the market rallies, a whale who previously sold 255 BTC to short now holds approximately 225.8 million dollars in BTC, ETH, SOL, and SUI shorts with more than 6 million dollars in unrealized losses (source: https://x.com/lookonchain/status/2005655722349175014). According to @lookonchain, the trader’s PnL flipped from a 7.7 million dollar profit to a 1.7 million dollar loss during the move (source: https://x.com/lookonchain/status/2005655722349175014). According to @lookonchain, address 0x94d3 initially sold 255 BTC worth 21.77 million dollars to initiate shorts and, over the past 5 hours, opened additional shorts of 1,360 BTC worth 119 million dollars, 36,281 ETH worth 106 million dollars, and 348,215 SOL worth 43 million dollars (source: https://x.com/lookonchain/status/2004575084896538842).

According to @lookonchain, trader address 0x94d3 opened fresh shorts totaling about $268M over the past 5 hours: 1,360 BTC (~$119M), 36,281 ETH (~$106M), and 348,215 SOL (~$43M). source: Lookonchain (X, Dec 29, 2025) The same address previously sold 255 BTC (~$21.77M) to initiate shorts across BTC, ETH, and SOL, realized $3.85M profit, and now sits on over $1.77M in unrealized PnL on renewed positions. source: Lookonchain (X, Dec 29, 2025) This reflects concentrated short-side positioning by a large on-chain trader across BTC, ETH, and SOL within a short window, offering a real-time signal of heightened short exposure. source: Lookonchain (X, Dec 29, 2025)