A major whale began liquidating a ~$148M SP500 short position and has already realized $561K in profits.

TechFlow News, June 10: According to on-chain analytics platform Lookonchain (@lookonchain), the whale address 0x97f8 previously established a $147.6 million short position on the S&P 500 index and has now begun partially realizing profits by closing 7,137 contracts (valued at approximately $52.45 million), generating a realized profit of $561,000. It currently holds 12,865 contracts (valued at approximately $94.07 million), with an unrealized profit of roughly $1.49 million.