Whale Re-Enters Market with Massive Bitcoin Short
On January 20, on-chain analytics revealed that a well-tracked whale address (0x94d37) reinitiated a bearish position as Bitcoin approached the $91,000 mark.
The wallet opened a short position on 1,770.52 BTC—worth approximately $161 million—at an average entry price of $91,089, using 20x leverage at 14:13 UTC.
Contrarian Play: Persistent Bets Against Major Cryptos
This isn’t a one-off move. Throughout the recent bullish momentum in BTC and ETH, the address has consistently taken contrarian positions, building substantial short exposure across top digital assets.
At one point, its bearish holdings reached $120 million, briefly making it the largest BTC short position on a major derivatives platform, drawing significant attention from traders and analysts.
- Execution Time: January 20, 14:13 UTC
- Shorted Asset: 1,770.52 BTC
- Position Value: ~$161 million
- Leverage Used: 20x
- Average Entry: $91,089
With Bitcoin testing new psychological levels, this aggressive short bet signals growing skepticism among select deep-pocketed players. The outcome could heavily influence near-term price dynamics, especially if volatility returns.