BTC Short Position by ETH Whale Nears $332M

• Whale’s BTC short position now totals 3,941 BTC worth $332M.
• Entry and liquidation prices signal tight margins.
• Whale also set buy orders for 1,692 BTC across lower price ranges.

Whale Boosts BTC Short Position Amid Market Volatility

A prominent crypto whale, known for aggressive trading in Ethereum and nicknamed “50x ETH ,” has significantly increased their BTC short position. According to on-chain data, the whale now holds a short position of 3,941 BTC, valued at approximately $331.8 million. This strategic bet against Bitcoin comes at a precarious time, with tight margins and potential for high risk.

Risk of Liquidation Looms

The whale’s entry price for the short position is $84,040.8, while the liquidation price is just above it at $85,290. This slim gap raises concerns about the viability of the position, especially if BTC experiences even modest upward momentum. Currently, the whale faces an unrealized loss of $836.8K, signaling Market movements are not favoring the position at this time.

The close proximity of the liquidation price suggests that even a slight rally in Bitcoin’s price could trigger a short squeeze—a scenario where rising prices force short sellers to close their positions by buying back BTC, further driving prices up.

Strategic Buy Orders Placed

Interestingly, the whale isn’t solely betting against Bitcoin. They’ve also placed 12 buy orders for 1,692 BTC, worth around $110 million, at prices ranging from $58,664 to $69,414. This dual strategy may indicate preparation for a significant market shift or hedge against potential losses from the short position.

Investors and traders are now closely watching this whale’s moves, as they could signal major upcoming shifts in Bitcoin’s price dynamics.