A major Bitcoin short seller, known as the "Ultimate Short Seller," has realized significant profits through strategic trading and funding rate settlements. Over the past six hours, the entity closed part of its BTC short positions, securing approximately $2.32 million in profits from a total closing value of $5.46 million. Since November, the address has executed five similar profit-taking operations at local lows without re-establishing short positions, opting instead to place orders around $76,200 for future profit-taking. The short position size has decreased by about $120 million from its previous peak of $136 million, leaving the whale with BTC short positions worth approximately $8.6 million. These positions have generated floating profits of $3.65 million, representing an 850% gain at an average price of $111,500. Since May 9th, the address has employed a wave trading strategy, selling high and buying low, but has recently shifted focus to continuous profit-taking. To date, funding fee settlements have contributed approximately $10 million in profits.