Bitcoin Whale Opens $65M Short Position Amid Surge in Bearish Trading

A new large leveraged position has been opened against Bitcoin, adding further momentum to a growing wave of bearish activity among major market participants.

Specifically, whale wallet 0xaeaa has initiated a 20x leveraged short position on 1,100 BTC, valued at approximately $64.95 million. The trade was entered at $58,411.40, with a liquidation price set at $67,914.56. Based on current market levels near $59,046, the position is showing an unrealized loss of roughly $698,022.

This move adds to a broader trend of large-scale short positioning. Just a day earlier, two other whales also opened major bearish trades, including a 40x short on 900 BTC worth $53.69 million from wallet 0x069a, and a 20x short on 800.75 BTC valued at $47.76 million from wallet 0x3e7a.

Source: Lookonchain