Whale 0x94d3 sold first, then opened a short position. Over the past few hours, it sold 255 BTC at an average price of $85,378, worth about $21.77 million, then opened a 10x leveraged short position of 876.27 BTC, worth about $76.3 million. Meanwhile, BTC failed to break above $90,000, with a 24-hour low of $84,581.
My take is that selling spot first and then adding a leveraged short looks more like a directional bet than simply selling a position—the short position is already more than three times the size of the sale.
Do you see this move as the whale betting that BTC will keep falling, or as a short-term hedge after a failed rally?
Follow me, and I’ll be the first to dig up any updates on whether this short position is closed or increased.
#btc
My take is that selling spot first and then adding a leveraged short looks more like a directional bet than simply selling a position—the short position is already more than three times the size of the sale.
Do you see this move as the whale betting that BTC will keep falling, or as a short-term hedge after a failed rally?
Follow me, and I’ll be the first to dig up any updates on whether this short position is closed or increased.
#btc
