According to on-chain analyst Ai Yi, a whale who shorted BTC four times since March 2025 is still holding onto his position. Over the past two months, his 20x BTC short position has gone from a profit of $5.74 million to a loss of $12.81 million, with a liquidation price of $130,110. However, during this period, the whale earned $4.33 million in funding fees, and considering his earlier profit-taking, he has a total profit margin of over $14.96 million.