Bitcoin Trader Books $79,600 as Short Position Falls to 85 BTC

Trader 58bro.eth booked about $79,600 by trimming a Bitcoin (BTC) short over the weekend, while keeping $19.22 million in combined BTC and Ether (ETH) shorts open ahead of the U.S. October consumer price index report due Tuesday.

The BTC short fell from 88 BTC to 85 BTC. As of Nov. 9, the remaining position was valued at about $6.37 million, with an average entry price of $77,582.60. The trader also held a short position in 6,000 ETH, worth about $12.85 million at an average entry price of $2,429.43. The combined shorts showed about $1.96 million in unrealized profit.

On Polymarket, the trader used the LucasMeow account to buy 20,000 “No” shares in a contract on whether BTC would fall to $70,000 by year-end. The purchase cost about $10,100, at an average implied probability of about 49%. By Nov. 9, the “No” contract’s implied probability had fallen to 39.5%, and the position was down about $2,164.

The trader also spent about $20,400 on 25,000 “No” shares tied to BTC falling to $60,000 by year-end. Weekend purchases across BTC and ETH price-prediction contracts totaled about $60,100. The trader had previously added to Bitcoin year-end decline prediction bets.

The two BTC contracts cost about $30,500 combined. If both settle in the trader’s favor, they would produce about $14,500 in net gains, enough to offset only about a $171, or 0.22%, rise above the BTC short’s average entry price.