Address that reduced Bitcoin longs by 8.978 billion won, maintains 24.254 billion won

A single Bitcoin wallet (0xf517639a8872e756ac98d3c65507d2ebc25cc032) cut its BTC long position by roughly $6.7 million, leaving about $18.1 million in longs as of 11:03 a.m. KST on the 5th, according to an Odaily observation. The address first closed about $2.2 million of longs, opened a new $1.8 million long, then closed a further $6.2 million, with the closing trades averaging an execution price near $80,253 per BTC. The reduction matters as a sign of de-risking by a large leveraged long holder during a period of Bitcoin price weakness. Traders will watch whether the remaining $18.1 million position is trimmed further or added to, and whether other large wallets follow with similar deleveraging.