According to on-chain monitoring, a whale address took profit of $3.277M early yesterday, then reopened a $70.76M short position on BTC and ETH just hours later. The current position holds 912.93 BTC ($54.98M) at $59,137 and 10,000 ETH ($15.83M) at $1,532, with an unrealized loss of $1.418M. This aggressive short after profit-taking signals a bearish outlook on short-term tops, though the floating loss suggests the market remains slightly bullish.
According to on-chain data analyst @ai_9684xtpa, a whale address took profit of $3.277 million early yesterday after closing a previous position. Last night, the same address re-entered with a large short position worth $70.76 million on BTC and ETH.
The current position consists of 912.93 BTC shorts (worth ~$54.98 million) with an average opening price of $59,137, and 10,000 ETH shorts (worth ~$15.83 million) with an average opening price of $1,532. Based on current market prices, the position is facing an unrealized loss of approximately $1.418 million.
This pattern of taking profit and immediately opening an opposing short position indicates that the whale expects further downside after the recent rally. However, the floating loss suggests that prices have not yet reversed, and traders should monitor whether a pullback occurs. Given the size of the position ($70.76M), it could influence short-term market sentiment and price action.
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