BTC whale switches from $91M short to 3x long position
Key Takeaways
- A prominent BTC whale has switched from holding a $91 million short position to a 3x long position.
- This major shift could signal increasing bullish sentiment among large Bitcoin holders.
A crypto whale who previously opened a short position of 1,000 BTC valued at around $91 million has closed the bet at a $1.6 million loss and switched to a 3x leveraged long position with a liquidation price near $59,112, according to data tracked by Lookonchain.
The shift comes as Bitcoin continues to hold above key support levels despite recent market drops. Traders have been adjusting their strategies in response to ongoing volatility, with some modifying short exposure or using leveraged positions on major trading platforms.
Bitcoin is trading at $91,500, up 11% over the past week, according to CoinGecko. The digital asset sits around 27% below its early October peak of more than $126,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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