Bitcoin Whale Opens $332 Million Short Position

According to data provided by analytics platform Lookonchain, a Bitcoin whale recently opened a short position of $332 million in Bitcoin with an entry price of $84,040.

The position was opened with 40X leverage, meaning the trader is borrowing 40 times the initial capital.

Bitcoin is currently changing hands at $83,945, according to CoinGecko data, down 2.3% over the past week.

This massive position will get liquidated if the price of Bitcoin spikes to the $85,000 level.

The trader previously raked in a whopping $16.39 million within a month on the decentralized trading platform Hyperliquid, with all eight trades profitable across two wallets.

Some commentators are predicting that the trader will inevitably be liquidated due to the precarious nature of the position. One social media user remarked: “These types of guys will lose it all.”

The 40x leverage dramatically increases the risk of liquidation, requiring only a 2.5% move to wipe out the entire position.

Data from CoinGlass shows that a total of $94 million worth of crypto has been liquidated over the past 24 hours, with shorts making up the majority ($49 million). The largest single liquidation occurred on Binance at $582,130 with the BTC/USDT pair. Over 65,000 traders were liquidated in this timeframe, with Binance accounting for 38.79% of total liquidations.