On-chain data shows a whale who previously held a $165 million short position closed it with a $3.277 million profit. That same night, the whale opened a new $70.76 million short position. The whale now holds short positions of 912.93 BTC and 10,000 ETH with average entry prices of $59,137 and $1,532 respectively, resulting in a floating loss of $1.418 million. This aggressive leverage strategy signals a strong bearish conviction.
Whale Doubles Down on Shorts After Profitable Close
According to on-chain analyst @ai_9684xtpa, a whale that previously shorted $165 million worth of cryptocurrencies has closed that position, netting a profit of $3.277 million. Remarkably, the same whale initiated a new short position worth $70.76 million later that same evening. Currently, the whale holds 912.93 BTC (worth approximately $54.98 million) and 10,000 ETH (worth approximately $15.83 million) as short positions. The average entry prices are $59,137 for BTC and $1,532 for ETH.
Due to short-term market fluctuations, these open positions have experienced a floating loss of $1.418 million. The whale's rapid re-entry into the market after a profitable exit indicates a sustained bearish outlook. Such large-scale leverage operations often draw attention from other traders, as they could signal potential price direction or risk of liquidation cascades.
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