Simply put, the whale that was in a 40x short position (meaning betting on a price drop) flipped the table and became a 40x long position (betting on a price increase).

He entered into a massive trade worth 37.9 million dollars on Bitcoin, with an entry price of 84,500 dollars and a liquidation at 83,000 dollars.

This means that if the price drops to 83K, the position will liquidate and he will lose everything, but if it rises, he could achieve huge profits due to the high leverage. 🔥💰 #BTC