According to on-chain monitoring platform Lookonchain, the Ethereum address pension-usdt.eth caught attention for its large-scale shorting of Bitcoin (BTC) and Ether (ETH). Roughly two months ago, the address simultaneously held short positions in both assets, but adverse price action pushed its unrealized loss to a peak of over $20 million.
Amid heightened market volatility, the situation reversed. Five days ago, the address’s ETH short position was the first to flip profitable. The position was promptly closed, netting a realized profit of $1.13 million.
More notably, the remaining short position—1,400 BTC, now valued at $97.15 million—has also swung into profit. From a trough of more than $20 million in unrealized losses two months ago to a paper gain approaching nine figures, pension-usdt.eth’s positioning underscores the dramatic shift in recent crypto market trends.