BTC Short Position Soars to $461 Million as Whale Seizes Profit Amid Bitcoin’s Decline

COINOTAG News reported on March 17th that data from HyperInsight indicates a notable increase in a prominent crypto trader’s short position on Bitcoin. The trader, termed the “Hyperliquid 50x Whale,” escalated their 40x short position, pushing the notional value to an impressive $461 million. Following a recent downturn in Bitcoin’s price, this position pivoted from a loss to a profit, boasting an unrealized gain of $8.1 million at an entry price of $83,923.2 and a liquidation threshold at $85,808.

Moreover, the same trader strategically diversified by initiating a 5x long position on MELANIA, valued at $2.45 million. With an entry price established at $0.69135, MELANIA’s current trading price stands at $0.7215, reflecting the multifaceted approach taken by this whale in navigating current market dynamics.