A bitcoin whale that operated short in the futures market in recent days has finally closed its position in the market after making a profit.
As reported by Livecoins, the whale opened a bitcoin 'short' with high leverage of 40 times. Thus, it indicated that it believed in a strong decline of BTC, placing profit exits below $70,000 and $60,000.
With a sold position of $525 million, more than R$2.4 billion, the market quickly began to follow the trade and speculate about it.
As reported by Livecoins, the whale opened a bitcoin 'short' with high leverage of 40 times. Thus, it indicated that it believed in a strong decline of BTC, placing profit exits below $70,000 and $60,000.
With a sold position of $525 million, more than R$2.4 billion, the market quickly began to follow the trade and speculate about it.
Whale closes short position in bitcoin after a profit of nearly $9 million.
The whale attracted attention for opening a highly leveraged position expecting to profit from the decline. Upon noticing the movement, many questioned on social media whether it could be a company or government with insider information.
However, after a weekend of rumors, the whale closed the position with a profit of nearly $9 million from its operation.
The trade involved an approximate investment of $12 million, but with leverage, it amounted to over $525 million.
