This on-chain whale's short-selling journey has recently run into trouble. According to the latest monitoring data from Onchain Lens, this major holder who previously sold off a large amount of BTC is now facing significant pressure on leveraged positions across multiple cryptocurrencies.

The account currently has an unrealized loss of over $7 million across positions in BTC (10x leverage), ETH (15x leverage), SOL (20x leverage), XRP (20x leverage), and STBL (3x leverage). Even more shocking, this whale originally held a paper profit of $5.5 million on these positions, but it has now turned into an actual loss of $2.5 million — a rapid turnaround that highlights the extreme market volatility.

This incident serves as a reminder to traders that leverage trading, especially across multiple assets with complex positions, carries risks far beyond initial expectations. When the market moves against positions, the accumulated leverage effect can quickly amplify losses. Although the whale's bearish bets initially yielded substantial profits, they ultimately could not withstand the market rebound.