BTC Trader Nets Over $7.5 Million by Mastering Shorting Strategies Amid Price Volatility

On March 10th, COINOTAG News reported notable trading activity observed by LookIntoChain, highlighting the strategic maneuvers of a prominent investor during the recent fluctuations in Bitcoin (BTC) prices. This particular whale entity demonstrated remarkable shorting capabilities, amassing unrealized gains exceeding $7.5 million. The trader initially executed a short position at around $96,500 on February 22nd, coinciding with a significant downturn where BTC subsequently plummeted below $80,000. Subsequently, the position was adeptly closed near the $78,900 mark.

Following a pivotal executive order from former President Trump, BTC experienced a rebound, surging past $94,000. Seizing the opportunity, the investor efficiently re-entered the market with another short position at approximately $94,424. Currently, this astute trader has established a new short position within the $92,449-$92,636 range, while strategically setting take-profit orders between $70,475-$74,192.