BITCOIN WHALES BETS ON DOWNSIDE WITH HEAVY 120M SHORT
major crypto investor has significantly expanded short positions in Bitcoin and Ethereum, deepening bearish sentiment amid a broader market struggling to regain momentum.
On-chain data shows that a whale wallet identified as 0x94d3 has continued to build downside exposure after sharply reducing its Bitcoin holdings earlier in the week. The activity underscores a growing conviction that the recent market rebound may be fragile.
According to blockchain analytics firm Lookonchain, the wallet sold 255 BTC last Friday at $21.77 million at an average price of $85,378 per Bitcoin. Shortly after exiting part of its spot exposure, the wallet pivoted aggressively toward leveraged short positions.
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