The crypto whale strategically expands short positions after a major sell-off

There is renewed activity in the crypto market from a major player. The well-known whale under the address 0xd83, referred to by the community as the ‘Air Force Commander’, has resumed active trading after a significant market reversal. According to ChainCatcher data, the institutional trader, following a forced liquidation of short positions totaling approximately $199 million, has restructured their assets.

Dynamic Changes in the Sea Giant’s Portfolio

The transitional period has been decisive for this whale’s strategy. After closing positions in major cryptocurrencies, the trader shifted focus to alternative assets. The total holdings increased from $266 million to $305 million, demonstrating increased confidence in the new approach. Over the past 24 hours, the portfolio has generated a floating profit of approximately $2.6 million.

A key move was launching a position in Solana with 20x leverage. The whale opened a short position of 123,000 units worth $15.86 million at an average entry price of $127.9. At the time of the latest analysis, Solana is trading at $115.42, which is below the trader’s entry point.

Multi-Vector Strategy: From Weakening to Focusing

The Bitcoin position increased from $145 million to $150 million, with an average entry price of $91,000 and a liquidation level of $91,800. The current BTC price at $82.65K shows a deep profit for this position.

In Ethereum, the position expanded from $96.1 million to $106 million, with an average price of $3,067 and a liquidation level of $3,061. ETH is currently trading at $2.74K, also providing a positive delta for the whale.

PEPE shows a more aggressive maneuver — the short position grew from $13.3 million to $19.3 million, with an entry price of $0.0049 and a liquidation at $0.0058. XRP remains in the portfolio, although its new parameters are not disclosed in the article.

Pre-Event Territory: When the Whale Approached $500 Million

Before the catastrophic liquidation on January 22, the whale was building one of the largest positions in the sector. Assets approached the $500 million mark, and the portfolio was dominated by short positions in Bitcoin, Ethereum, PEPE, and XRP. This was a critical risk concentration point.

The morning liquidation (at 3:30 UTC+8) proved devastating: five crypto positions were sold almost entirely, with losses exceeding $20 million, and the total liquidated value was around $200 million.

Lessons for Observers: Why the Whale Returned

The revival of activity by this whale after such a loss signals long-term confidence in short positions. Instead of fleeing the market, the trader restructured the portfolio, maintaining exposure to Bitcoin and Ethereum but adding volatile Solana with extreme leverage. This maneuver indicates a desire to quickly recover lost ground, which is always associated with increased liquidation risk.

This whale clearly demonstrates the dynamics of an institutional trader: after a setback — not exit, but strategy adaptation and seeking new opportunities.