Whale with $9.71 million XMR short positions continues to reduce holdings, still holding the largest short position

On-chain data shows that the well-known swing trader “20 million swing hunter” continued to reduce their XMR short positions in the past hour, but still maintains the largest on-chain XMR short position. This aggressive trader, with a cumulative profit of over $100 million, is currently shorting more than 20,000 XMR with 5x leverage, with a position value of approximately $9.71 million, and an unrealized profit of $1.2 million.

Whale Position Details

The address (0x880a) currently holds the following XMR short positions:

Why is the position being reduced?

Reducing positions usually reflects two possibilities: one is that the trader’s market outlook has adjusted, and the other is risk management needs (such as preventing liquidation or locking in profits). From the data, although this trader is reducing their position, they have not closed or exited, indicating their bearish outlook on XMR’s future price movement remains unchanged.

XMR Price Background

According to the latest data, XMR is trading at $467.90, which is about 11.2% below the entry average price of $526.85. While XMR has risen 3.36% in the past 24 hours, it has still fallen 23.35% over the past 7 days, indicating medium-term pressure.

Trader Style Analysis

“20 million swing hunter” is an aggressive trader, skilled at using high leverage for short-term operations. Their total profit of $104.9 million across the full cycle demonstrates that this is not a random approach but a validated trading strategy. The reduction in position by such traders often has reference value.

Market Implications

The behavior of reducing but not closing positions sends a signal: this trader believes XMR still has downside potential but is also managing risk exposure. This could imply:

• XMR may face further downward pressure in the short term
• $526.85 is an important psychological and technical level
• Large traders’ bearish consensus on XMR persists, but their attitude is shifting from aggressive to cautious

Summary

The reduction in the on-chain largest short position does not indicate a change in bearish sentiment but reflects risk management. Although XMR has rebounded, it remains under medium-term pressure, with the entry average price of $526.85 serving as a key observation point. For traders, the actions of this historically outstanding whale are worth continuous monitoring, as their next move may signal a new shift in market sentiment.