An address linked to AguilaTrades is now holding a short position of about $9.35 million in $BTC , entered at around $77,429, with a liquidation price of around $81,464. The liquidation threshold is just above.
Even more striking is the track record: cumulative losses of $38.2 million so far. Continuing to hold a short after losing that much is either based on a strategy of their own or just pure gambling.
The liquidation price is right there. If the price rises a bit further, the position will be forcibly closed—and short covering could then push the price up even more. Whether this address reduces its position next is something we can directly observe.