$BTW UPDATE 👀
Roughly half of the whale long position is now closed, and price dropped 58% from the high.
• OI: $169.8M → $78.5M
• Whale longs: $128.7M → $57M
• Whale PnL: +$89.4M → +$21.9M
They weren’t liquidated , they sold.
OI and price dropped together, confirming position closing rather than a liquidation squeeze.
And there’s still $57M in whale longs sitting with +$21.9M profit.
The same exit problem remains for the remaining position. 👀
Roughly half of the whale long position is now closed, and price dropped 58% from the high.
• OI: $169.8M → $78.5M
• Whale longs: $128.7M → $57M
• Whale PnL: +$89.4M → +$21.9M
They weren’t liquidated , they sold.
OI and price dropped together, confirming position closing rather than a liquidation squeeze.
And there’s still $57M in whale longs sitting with +$21.9M profit.
The same exit problem remains for the remaining position. 👀