On-chain data shows that a seasoned trader opened a short position with 44.15 BTC at 40x leverage this morning, with an average entry price around $92,359.7, totaling approximately $4.07 million. This position is currently slightly in profit.

Based on the historical behavior of this address, this trader is known for being aggressive—actively trading within a leverage range of 5 to 40 times for years, mainly participating in mainstream cryptocurrencies like BTC and ETH, and occasionally dabbling in large-cap altcoins. This trading rhythm and risk appetite reflect that there are still many bearish market participants lurking and positioning themselves.