The $11 billion Bitcoin whale made millions in profit from last week’s crypto market crash and continues betting on more downside.
The $11 billion Bitcoin whale is back with another massive short position, signaling that some large investors are hedging for more crypto market downside amid the tariff concerns and ongoing government shutdown.
The Bitcoin whale, which is crypto slang for a large investor, returned with a $235 million 10-times leveraged short position on Bitcoin (BTC), which is a de facto bet on the price decline of the world’s first cryptocurrency.
The large investor opened the short position on Monday, when Bitcoin was trading at $111,190. He currently faces a $2.6 million unrealized loss on the short bet, which stands to be liquidated if Bitcoin’s price surpasses $112,368, according to Hypurrscan blockchain data.
