Suspected Galaxy Digital-related address continues to take profits on ETH short positions, recently liquidated $11 million in spot holdings.

CoinJie.com reports that on April 21, according to Hyperinsight monitoring, over the past 16 hours, the Galaxy Digital–related address (0xcac) has continued closing ETH short positions, reducing a total of 905 ETH, which is approximately $2.09 million. There is currently still $2.6 million in unrealized profit, with a position size of $7.4 million. Since March, the address has significantly reduced its positions, continuously selling BTC and ETH spot and simultaneously closing short positions. The total spot sales amounted to $11 million, completing the full liquidation; the short position size also fell from $35 million to the current $13.8 million. During this period, funding-rate settlement recorded a gain of about $3.5 million. CoinJie.com reports that this address has received multiple on-chain fund transfers from Galaxy Digital and has long been executing a neutral arbitrage strategy on Hyperliquid. Typically, it maintains risk neutrality by selling spot and closing short positions, or by buying spot and adding to short positions. Address: 0xcac19662ec88d23fa1c81ac0e8570b0cf2ff26b3