BTC Whale @qwatio Closes Short Position, Nets $1.97 Million Profit Amid Market Drop

According to Ashes Monitor, the prominent trader known as the “50x Contract Whale” @qwatio successfully closed his Bitcoin short position early this morning, securing a substantial profit of $1.97 million. Initially, @qwatio deployed $7.3 million in margin to short BTC against James, though the position experienced significant drawdowns, dropping below $1 million at one point. On June 13, he strategically increased his exposure with an additional $107,766 position cost. As Bitcoin’s price continued its downward trajectory, @qwatio exited the trade when BTC fell below the $100,000 threshold, effectively recouping prior losses and generating notable gains. This transaction contributes to his impressive track record, having amassed $26 million in profits this year through three distinct addresses on the Hyperliquid platform. Such activity underscores the growing sophistication and scale of leveraged trading within the cryptocurrency derivatives market.