Onchain Lens reported that pension-usdt.eth’s 3x short positions in Bitcoin and Ethereum showed more than $19.6 million in unrealized losses as prices continued to climb. The update indicates the wallet remained profitable overall, but its profit dropped sharply from more than $32 million to $10.66 million. A short position is a bearish trade that benefits when prices fall, while leverage increases both potential returns and potential losses, making the position more sensitive to market moves.