A Whale's Calculated Short Play Nets Millions in Falling Market
As Bitcoin and Ethereum entered a sharp correction phase, an unidentified on-chain trader executed a series of aggressive short trades over the past five days. Starting with a $3 million position, the address has grown its portfolio to $10 million by continuously rolling over leveraged bets against major cryptocurrencies.
Profits Reinvested into Larger Bearish Bets
With prices continuing to slide, the trader doubled down this morning. Just an hour ago, they reinvested unrealized gains to increase their BTC short exposure, pushing the total notional value of their bearish positions to a staggering $250 million—highlighting both confidence and strategic execution.
Breakdown of Active Short Positions
- BTC Shorts: 1,640 BTC shorted at an average entry of $92,120; liquidation price at $94,401; currently up $2.04 million.
- ETH Shorts: 31,093 ETH shorted at $3,270; liquidation point at $3,296; unrealized profit exceeds $4.77 million.
The move underscores the power of leveraged derivatives during volatile phases. If the downward trend persists, this trader could unlock even greater returns, setting a case study in modern on-chain speculation.