The crypto whale is up over $2 million on his short position, which faces liquidation if Bitcoin recovers above $85,592.
A Bitcoin whale is betting hundreds of millions of dollars on a short-term decline in Bitcoin’s price ahead of a pivotal week filled with key economic reports that could significantly influence its trajectory and investor risk appetite.
A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442 Bitcoin (BTC) —worth over $368 million — which functions as a de facto bet on Bitcoin’s price fall.
Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular investment positions.
