🚨Major Whale Shift: Building Over $91M in Shorts
Today's most notable move involved a major whale closing long positions and aggressively opening large short positions across several top cryptocurrencies.
· Position: $47.8M short
· Entry Price: $88,959.5
· Leverage: 20x
· Position: $32.56M short
· Entry Price: $3,000.61
· Leverage: 18x
· Position: $10.68M short
· Entry Price: $128.52
· Leverage: 20x
This coordinated move into high-leverage shorts on multiple assets signals a strong conviction by this whale that the market may experience a downward move in the near term.
🛡️ Counter-Strategy: Whales Accumulating Bitcoin
In a direct contrast to the shorting whale, other large investors are actively accumulating Bitcoin, indicating a belief in its long-term value.
· Binance Withdrawals: Two new wallets withdrew 1,600 BTC (worth ~$144 million) from Binance. Large withdrawals from exchanges to private wallets are typically seen as a sign of accumulation and reduced intent to sell immediately.
· Ongoing Trend: This aligns with a broader trend of "whale" entities (holding 1,000-10,000 BTC) accumulating Bitcoin, even as retail investors have been net sellers. Data from late 2024 showed these whales began buying after Bitcoin established a low near $80,000 and have continued despite the price struggling to hold above $90,000.
· Bullish Sentiment on Bitfinex: On the Bitfinex exchange, large-volume traders' long Bitcoin positions have recently reached their highest levels in nearly two years, showing a concentrated bullish sentiment among that group.
