According to CoinMeta, on BTC, the market tested resistance at $65,500, and two smart money shorts on HyperLiquid simultaneously reduced their positions. The top short position address, 0xff84…8f1d, closed out at $65,459, losing $150 BTC, with a loss of $187,000. Its position was reduced from 1,600 BTC to 780 BTC, representing a cumulative reduction of 51.25%, resulting in a confirmed loss of $811,200. Currently, the remaining short position is worth $50.94 million, with a forced close at $65,450.69. Another address, 0x004e…1bb8, closed out 723.94 BTC today, worth over $47 million, with a loss of about $31,500. Now, only 1 BTC remains, and they have basically exited this trade. The leading shorts reducing their positions simultaneously indicates that the bears are actively lowering their risk exposure.