📰 Whale Opens Massive Short Position on Bitcoin Worth $118 Million – Is a Crash Incoming?
According to HyperInsight, as reported by BlockBeats and confirmed by Binance, a major on-chain whale (address starting with 0x5D2F) has recently increased their short position on Bitcoin by 257.45 BTC, bringing the total position value to $118,536,791, which equals approximately 1,097.47 BTC with 40x leverage.
🔹 Opening price: $107,926
🔹 Value of the recent addition: $26.77 million
🔹 Total adjusted position: 1,097.47 BTC
📉 This large-scale move signals a strong bearish stance, likely expecting a significant drop in Bitcoin’s price soon. Such high leverage positions are typically opened by seasoned traders or entities with high confidence in insider data or advanced market analysis.
📍 Sources:
Binance Square - Whale Increases BTC Short
BlockBeats via HyperInsight
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🔍 This is information, not financial advice. The market always carries risk—think smart and decide for yourself.