Bitcoin Short Positions Reach $12.25M as Calm Long King Bets Heavily on BTC

According to Coinbob Popular Address Monitor, over the last seven hours the ‘Calm Long King’ modestly expanded its BTC Short, ZEC Short, and SOL Short exposure. The ZEC average entry rose from $344 to $360, with total notional near $17.29 million. Amid today’s BTC pullback, the position swung to a small unrealized loss of about $160,000, led by the ZEC leg. Core holdings: 40x BTC Short (~$12.25M), unrealized loss ~$40k; 20x SOL Short (~$2.24M), unrealized loss ~$150k; 10x ZEC Short (~$2.51M), unrealized gain ~$20k (20%). Avg entry: BTC ~$92k, SOL ~$140, ZEC $360.

Since the 27th, the address has added roughly $200k to Hyperliquid and opened several positions, posting a 15-win run. With a starting capital of \$3M in September, the strategy reportedly generated over \$30M in two months, followed by November drawdowns that trimmed profits and underscored risk-management needs for leveraged crypto bets.