Bitcoin Whale 0x5D2F Faces $8.6M Floating Loss, Deposits $8M USDC to Protect 2,041 BTC Short Position

COINOTAG News, September 12 — citing LookIntoChain monitoring, the market rebound has left whale 0x5D2F with a reported floating loss of over $8.6 million across crypto short positions, according to on‑chain analytics.

To mitigate liquidation risk, the address reportedly deposited $8 million USDC to bolster its USDC collateral, a defensive measure commonly used to restore margin buffers in leveraged short trades.

LookIntoChain data lists current exposure as 2,041 BTC (≈ $236 million) in short positions and 500 ETH (≈ $2.25 million), with the collateral injection intended to sustain those positions amid volatility.