$BTC BTC giant whale adds $25 million sell order, plans to flip short near $88.8k
At 09:31 this morning, an address starting with 0xf517 added a BTC regular limit sell order of about $25 million at around $89,444, intending to sell 279.50 BTC. Combined with the earlier $5.5 million sell order held at $88,888, the total non-position-reducing sell orders above amount to approximately $30.5 million.
About 13 seconds before the new sell order, the address first lowered the “reduce-only” take-profit order covering its entire 70.41 BTC long position from $88,888 to $88,777, with a placed amount of about $6.251 million.
As of 10:23 Beijing time, the address still holds the above long position, with an average entry price of about $81,273.5, a position value of about $6.034 million, an unrealized profit of about $312,000, and no BTC trades today.
If the position and orders remain unchanged, a rise to $88,777 would first trigger its full-position take-profit order; then, if the ordinary sell orders at $88,888 and $89,444 are executed, the address would flip from long to short, potentially establishing up to about 341.38 BTC of short exposure.
Meanwhile, the address still holds approximately $47.196 million in ordinary buy orders in the $67,777 to $78,777 range, including the $78,777 tier of about $20 million.
At 09:31 this morning, an address starting with 0xf517 added a BTC regular limit sell order of about $25 million at around $89,444, intending to sell 279.50 BTC. Combined with the earlier $5.5 million sell order held at $88,888, the total non-position-reducing sell orders above amount to approximately $30.5 million.
About 13 seconds before the new sell order, the address first lowered the “reduce-only” take-profit order covering its entire 70.41 BTC long position from $88,888 to $88,777, with a placed amount of about $6.251 million.
As of 10:23 Beijing time, the address still holds the above long position, with an average entry price of about $81,273.5, a position value of about $6.034 million, an unrealized profit of about $312,000, and no BTC trades today.
If the position and orders remain unchanged, a rise to $88,777 would first trigger its full-position take-profit order; then, if the ordinary sell orders at $88,888 and $89,444 are executed, the address would flip from long to short, potentially establishing up to about 341.38 BTC of short exposure.
Meanwhile, the address still holds approximately $47.196 million in ordinary buy orders in the $67,777 to $78,777 range, including the $78,777 tier of about $20 million.
