A prominent Ethereum whale, known as "ETH Bear," has shifted its strategy from rolling short positions to gradually closing them, realizing $12.7 million in profits this February. The whale's address (0x20c) has achieved a monthly return on investment of 1277%, with total historical profits surpassing $80 million. The whale has maintained a maximum drawdown of under 20% during trading. Currently, the whale holds a 25x leveraged ETH short position, reduced from $84 million to $16.3 million, with an average price of $2,941 and a liquidation price of $2,592. This position yields an unrealized profit of approximately $8.4 million. Additionally, the whale has earned $6.9 million from funding rate profits, demonstrating expertise in intraday position adjustments. Of the $80 million in cycle profits, nearly $60 million has been withdrawn.