Bitcoin Trader Closes Short At Nearly $2 Million Loss Ahead Of BTC's Push To $81,000— Rally Here To Stay?

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A trader with a track record of successful bearish calls exited a large Bitcoin (CRYPTO: BTC) short late Monday as the leading cryptocurrency climbed to $81,000.

Traders Exits Before Shorts Get Wrecked

The trader closed a 700 BTC position valued at $56.68 million at the time of reporting, incurring a $1.94 million loss after holding for nearly 70 hours.

This single move erased $1.71 million in profits from their eleven prior successful BTC shorts.

Trader 0x004e closed a 700 $BTC($56.68M) short 1 hour ago, taking a $1.94M loss.

Despite winning his previous 11 $BTC shorts for a total profit of $1.71M, this single trade wiped out all his gains.

Wallet:
0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8 pic.twitter.com/95uod8jw9W

— Lookonchain (@lookonchain) May 5, 2026

Interestingly, the closure came hours before Bitcoin recaptured $81,000 for the first time since Jan. 31, perhaps in an effort to limit losses and avoid liquidation.

Bitcoin’s spike caught short position traders …

Full story available on Benzinga.com

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Bitcoin Trader Closes Short At Nearly $2 Million Loss Ahead Of BTC’s Push To $81,000— Rally Here To Stay?

Traders Exits Before Shorts Get Wrecked