Wallet 0x004e closed a 700 BTC short position on May 5, 2026, taking a $1.94 million loss. The loss erased $1.71 million in profits built over 11 consecutive winning Bitcoin trades.
The 11-Trade Run
Eleven straight Bitcoin trades had turned profits. They added up to $1.71 million. The streak made the wallet stand out. Traders watched as the wins piled up. It felt solid. Unstoppable, even. Then Sunday came.
Sunday's Short Cover
Closing that 700 BTC short cost them. The trade finished with a $1.94 million deficit. No warning signs appeared. The market shifted fast. They cut their losses and got out. The hit hurt more than expected. It wasn't a small setback. It was massive.
Wiped Clean
The loss erased nearly all prior gains. $1.94 million down versus $1.71 million up. After 12 trades, the net is negative. That winning streak? Gone. One trade undid everything. The trader now sits underwater. It's a harsh turn.
The wallet hasn't moved since May 5. No new trades show up on the chain. Will they try to recover? The market stays volatile. But right now, it's quiet. The streak's over. The next move matters.
