Two Major Whales Turn Bearish on LTC, Boosting Short Positions
According to the latest data from Hyperinsight on January 14, two well-known crypto whales have significantly increased their short positions on Litecoin (LTC), each adding over $1 million in short bets, indicating growing bearish sentiment in the market.
'20M Swing Trader' Adds More LTC Shorts
The whale known as '20M Swing Trader' has been aggressively adding to its LTC short position today, increasing holdings by approximately 2,712.32 LTC, worth around $209,600. Its average entry price is now $78.79, with a total position size reaching $1.227 million. Currently, the trader is facing a floating loss of approximately $3,674, or -2.99%.
Notably, this whale has added more than $1 million in LTC shorts today alone, and continues to accumulate as of press time, signaling a cautious stance on LTC's price movement.
'Altcoin Air Force Head' Rolls Position to Lock in Gains
Meanwhile, the well-known short seller 'Altcoin Air Force Head' has performed a rolling short operation on LTC, adding approximately 7,587.20 LTC, worth about $588,200. This move has lowered the average entry price to $84.90, expanding the total short exposure to $3.43 million, with floating profits now exceeding $259,000, a return of +75.54%.
This whale has added more than $3 million in short positions today and continues to build its exposure, reinforcing its strong bearish outlook on the market.
Market Takeaways
- Whale activity can serve as a leading indicator of short-term market sentiment
- Increase in LTC shorts may signal potential price correction
- Investors should remain cautious and monitor key support levels closely