📰 Whale Opens Huge Short Position on Bitcoin Worth $118 Million – Is He Betting on a Crash?
The HyperInsight platform revealed, according to a report published by BlockBeats and confirmed by Binance, that one of the major whales on the chain (address starting with 0x5D2F) has recently increased his short position on Bitcoin by 257.45 BTC, bringing the total value of his position to $118,536,791, which is roughly equivalent to 1,097.47 BTC with 40x leverage.
🔹 Opening Price of the Position: $107,926
🔹 Value of Recent Increase: $26.77 Million
🔹 Total Position After Adjustment: 1,097.47 BTC
📉 This massive move reflects a strong inclination towards selling and betting on a decline in Bitcoin in the near term. Using such high leverage is something only an experienced trader or an entity with significant confidence in information or analysis that is not available to the public would do.
📍 Source of the News:
Binance Square - Whale Increases BTC Short
BlockBeats via HyperInsight
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🔍 This is information, not advice, and the market always carries risks, so think with your mind and make your decision with your own hands.