BTC short positions exceed $830,000. Why is this major investor continuously increasing their bearish bets?

【Crypto World】Recently, a large account labeled as the “Shanzhai Air Force Leader” has attracted attention. This trader has been frequently adjusting positions recently, especially showing significant activity in BTC shorts—currently holding a position worth $839,000, with an average opening price of $92,490.8.

From the perspective of perpetual contract allocation, this account’s short positions account for as much as 90%, indicating a very firm bearish stance. Interestingly, this large holder is not solely shorting a single asset. Their asset allocation is quite diversified, currently holding positions in 20 different tokens.

Short positions in LIT, HYPE, and ETH are particularly noteworthy—valued at $14.158 million, $8.3 million, and $4.9 million respectively. What signals does this layout convey? The total account value is about $28 million, but what is even more impressive is this large holder’s historical track record—total cycle profits have exceeded $78.025 million.

Such returns are quite remarkable in any trading circle. Looking at the position trends, the large holder continues to increase their short positions. What is the basis for this judgment? Are they optimistic about further adjustment space, or are there other tactical considerations? Market participants should closely monitor the movements of such top addresses.