The crypto whale is up over $2 million on his short position, which faces liquidation if Bitcoin recovers above $85,592.
A Bitcoin whale is wagering hundreds of millions on Bitcoin’s short-term decline, ahead of a week filled with key economic reports that may significantly impact Bitcoin’s price trajectory and risk appetite among investors.
A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442 Bitcoin (BTC) worth over $368 million, which functions as a de facto bet on Bitcoin’s price fall.
Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular investment positions.
