Whale heavily shorts BTC, is this confidence or a gamble?
A few hours ago, a whale just closed all short positions and then immediately opened a 40x leverage short on Bitcoin at 94,709, with a total position of up to 54.9 million dollars and a closing price set at 115,010.
From this action, it appears that this whale is either out of options or overflowing with confidence. High leverage means that it cannot tolerate much volatility; a 10% rise in Bitcoin could liquidate them.
This reveals a signal: large funds are betting on a short-term decline, but it also exposes the significant market divergence. The chips are highly concentrated in the hands of a few; once the direction changes, shorts can easily be 'blown up' by the elevator.
Whether going long or short, do not blindly follow the trend, especially with high leverage; first assess the direction before getting in.
