Brothers, you absolutely can’t imagine! A whale just did something crazy: he cleared all BTC spot and opened a 120 million USD 10x short position! What’s even stranger is that he is already facing a loss of over a million USD, yet he still holds on tightly. Is this giving away money, or is he playing a big game?
News
This whale bought nearly 20 million USD worth of BTC spot on the 19th and then sold everything, using the money to open a 10x leveraged short position. The problem is, his opening price was 87,300, and now BTC has risen to over 90,000, which means he is already facing a loss of over 10%! A normal person would have cut their losses long ago, but he hasn’t. Is he foolish, or does he see a future that we don’t?
Technical analysis
On the 4-hour chart, BTC is oscillating around $90,300, and the MACD golden cross indicates that the trend is still upward.
But the key pressure has arrived: 91,500 is the recent pressure, 93,600 is the strong pressure zone, a huge volume is needed to break through. Below, 87,600 is the key support, and breaking below may test 85,000.
The volume shows that buying pressure is dominant, but the red bars turning green indicate that the momentum for the upward push is weakening, and a battle between bulls and bears is imminent.
My view
I believe BTC will likely test the 91,500 pressure in the short term, but it will be difficult to break through and stabilize directly. The short positions of the whales are like obvious bombs; although they are currently at a floating loss, if the price adjusts, they will quickly break even or even profit. The more likely scenario is: after a surge to 91,500, it will retrace and oscillate between 87,600 and 91,500 to gather strength.
What should retail investors do?
If you haven't entered the market yet, don't chase high above 91,000! Be patient and wait for a pullback. If it falls to the range of 88,500-89,500, you can try a small long position.
If you already hold, it is recommended to reduce positions in batches in the area of 91,000-92,000 to lock in some profits.
Remember: when the whales are against the market trend, the safest thing is to stand on the trend side, but don’t stand too far forward.
The market is always teaching us one thing: sometimes the biggest risk comes from seemingly smart counter-trends. This $120 million short position is no joke; either he will be liquidated, or the market will adjust. Do you want to know how to predict market turning points through changes in whale positions? Follow me and participate in every attack of Hongcai! Hongcai will announce specific entry times and real-time news every day in the chat room!#加密市场观察 $BTC
