This Bitcoin whale, with $11 billion in holdings, has opened a large short position again, indicating that some major investors are hedging against further downside risks in the cryptocurrency market amid tariff concerns and a continuing government shutdown.
This Bitcoin whale—referring to large investors in cryptocurrency slang—has once again opened a $235 million short position with 10x leverage on Bitcoin (BTC), effectively betting on a decline in the price of the world's first cryptocurrency.
The large investor opened the short position on Monday when BTC was trading at $111,190. According to Hypurrscan blockchain data, he is currently facing an unrealized loss of $2.6 million on this short position, which will be forcibly liquidated if the BTC price exceeds $112,368.
This new short position was opened a week after the same whale netted approximately $200 million in profits from similar leveraged short positions during the cryptocurrency market crash.
In trading, leverage refers to a strategy that allows investors to open larger positions than their holdings by "borrowing" capital. While leveraged trading can amplify potential gains, it also magnifies downside risks and can lead to total investment losses.
"The whale that made $200 million shorting BTC when it crashed to $100,000 has now moved $30 million to Hyperliquid and is shorting again," blockchain data platform Arkham wrote in a post on X on Monday.
The whale also transferred $540 million worth of BTC to a new wallet over the past week, including a $220 million transfer to a Coinbase exchange wallet.
This Bitcoin whale, who appeared two months ago, rotated about $5 billion of BTC into Ethereum (ETH), at one point surpassing the second-largest corporate treasury, Sharplink, in total ETH holdings, as reported by Cointelegraph on September 1.
According to analyst and early Bitcoin adopter Willy Woo, the large-scale sell-off by previously dormant Bitcoin whales was one of the main factors limiting BTC price movements in August.
Meanwhile, following the recent cryptocurrency market crash that caused BTC to fall below the critical $113,000 level, new Bitcoin whales are facing a cumulative unrealized loss of over $6.95 billion.
"The trading price of BTC is below its average cost basis of about $113,000, resulting in an unrealized loss of $6.95 billion, the largest since October 2023," cryptocurrency analysis platform CryptoQuant wrote in a post on X on Tuesday, adding that this group "holds about 45% of the total realized market value of whales."
Despite declining investor sentiment, analysts believe that BTC's drop to $104,000 over four days is a healthy adjustment that has cleared excess leverage, prompting market participants to adopt more conservative positions.
Meanwhile, the supply of short-term Bitcoin holders has increased, with "speculative capital" taking a larger share in the market, blockchain analysis firm Glassnode reported on Tuesday.
Related: Bitcoin (BTC) plummeting to $104,000 is a "cleansing" rather than a "failure" of the crypto cycle.
Original: “Bitcoin (BTC) Whale Opens $235 Million Short Position After Netting $200 Million from Market Crash”
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