A closely watched Bitcoin whale trimmed an outsized 40x leveraged BTC short after the CPI-driven rebound, buying back 600 BTC across 12 reduce-only stop-market orders in six rounds for a notional value of about $38.563 million. The position had previously stood at 1,792.6 BTC, worth roughly $114 million, with the liquidation threshold at one point less than 0.7% away, underscoring how tightly margined the trade had become. After the reduction, the trader rolled the position and reopened a 269.3 BTC short worth about $17.097 million at an average execution price near $63,476. As of publication, the whale still held a 40x full-position short of 1,411.9 BTC valued at about $89.57 million, down about 21.2% from the peak position size. The entry price was $63,899.4, with an unrealized profit of about $650,000 and a return rate of about 28.8%, while the liquidation price stood at $64,131.2, still only about 1.1% from the market price. The account also retained 32 reduce-only stop-market orders, with the nearest trigger at $64,096, around $35 below the liquidation level, according to TradingBeats, an on-chain perpetual futures and address analysis tool tracking Hyperliquid data.