Crypto Whale Returns After Major Liquidation, Rebuilds Multi-Million Short Portfolio

Following a significant liquidation event that wiped out nearly $199 million in short positions, the prominent cryptocurrency trader known as ‘Air Force Commander’ (0xd83) has re-entered the market with renewed vigor. According to ChainCatcher, the whale has strategically repositioned its short exposure across multiple cryptocurrencies, bringing total holdings from $266 million to $305 million—a $39 million increase in just days.

The Air Force Commander Strikes Back Post-Liquidation

The account belongs to one of crypto’s most watched whales, previously commanding nearly $500 million in total short positions before the dramatic liquidation on January 22 at approximately 3:30 AM UTC+8. That catastrophic event triggered cascading liquidations across five cryptocurrency positions simultaneously, resulting in losses exceeding $20 million. Rather than retreating, the whale has now restructured its portfolio and is aggressively rebuilding exposure.

Aggressive Shorts Across Bitcoin, Ethereum, and Solana

The whale’s new positioning reveals a calculated strategy. Bitcoin short positions have surged from $145 million to $150 million, with an average entry price of $91,000 and a liquidation price of $91,800. Ethereum shorts expanded from $96.1 million to $106 million, averaging $3,067 with a critical liquidation level at $3,061. Most notably, the whale initiated a 20x leveraged short position in Solana, establishing 123,000 units valued at approximately $15.86 million at an average price of $127.9. The PEPE short position also grew from $13.3 million to $19.3 million, maintaining an average of $0.0049 per token. As of January 30, current market prices stand at BTC $83.20K, ETH $2.73K, and SOL $117.39, suggesting the whale’s recent positioning has yielded a floating profit of approximately $2.6 million within 24 hours.

Liquidation Risks and Strategic Implications

Despite the recent gains, the whale’s positions remain exposed to significant liquidation risks. The razor-thin margins between average entry prices and liquidation prices—particularly in Ethereum (just $6 difference) and Solana (a $29.1 gap)—underscore the high-wire nature of these leveraged bets. The liquidation event just days prior serves as a stark reminder of how quickly market swings can devastate even well-capitalized traders. Whether this rebuilt portfolio represents genuine conviction or a revenge trade remains a question the market will soon answer.