A whale wallet tracked by Lookonchain has switched from bearish to bullish positioning in Bitcoin. According to the on-chain monitoring account, address 0xccf3 closed a short position of 760 BTC about an hour earlier. The position was valued at roughly $58.4 million and realized an estimated profit of about $266,000.
After closing the short, the same address opened a new long position on 900 BTC using 40x leverage. The new position was valued at around $69.2 million at the time of the update. Lookonchain said the long was already showing an unrealized profit of about $173,000.
The move was reported by BlockBeats on Sept. 15 and reflects a rapid shift in directional exposure by a large market participant.
BlockBeats reported on Sept. 15 that, according to Lookonchain, whale address 0xccf3 flipped long after closing a 760 BTC short position.
About one hour earlier, the address closed the 760 BTC short, a position valued at roughly $58.4 million, locking in an estimated profit of about $266,000. It then opened a 900 BTC long using 40x leverage, with the position valued at about $69.2 million. At the time of the update, the long was showing an unrealized profit of roughly $173,000.
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