According to HyperInsight monitoring, on January 22, a major crypto investor added a $19.74M BTC short position within one hour, bringing total short exposure to 374 BTC with 40x leverage, valued at approximately $34M. The current unrealized loss stands at $190K, with a liquidation price around $110K and take-profit targets set between $71.1K and $72.1K.
Complete Spot Liquidation, Pivot to Shorting
Since January 20, the entity had gradually sold off 171 BTC (~$15.4M) through Hyperliquid. After fully exiting its spot position, it first opened a short position when BTC traded around $88K, initially worth $13.8M. This recent addition signals a strong bearish outlook on Bitcoin's near-term price action.
Market Implications and Technical Signals
- Massive short accumulation suggests potential short-term downside risks
- 40x leverage amplifies sensitivity to market volatility
- Narrow profit-taking range might trigger support level testing