A crypto investor identified as 'First Set 10 Big Goals' has reported an unrealized profit of approximately $1.968 million from short positions on Bitcoin (BTC) and Ethereum (ETH), with total exposure reaching $173 million. The move comes amid growing bearish sentiment in the crypto market.
Position Details: Precise Entry on BTC and ETH
According to on-chain data, the investor holds 2,201.507 BTC short contracts worth about $157 million, with an average entry price of approximately $71,671.50. Additionally, they hold 7,093 ETH short contracts worth about $15.96 million, entered at around $2,251.23. The stop-loss range for the BTC position is set between $73,000 and $73,500, indicating strict risk management.
Market Context: Bearish Bets Intensify
Recently, multiple whales and institutions have increased bearish positions. An Ethereum address previously faced a $15.73 million loss on BTC and ETH shorts, while another whale opened a $74 million BTC short on Hyperliquid. 10x Research also warned that Bitcoin's trend model turned bearish at $76,088. As of writing, BTC trades near $71,500 and ETH near $2,250, close to the investor's entry levels, putting the shorts under scrutiny.
Risk and Impact
Large short positions can amplify market volatility. If BTC or ETH prices breach the stop-loss, a cascade of liquidations may follow. Conversely, if prices decline further, the investor stands to gain significantly. This content is for informational purposes only and does not constitute financial advice.