Bitcoin Whale Shorts $74.5M Worth After Price Reaches New High

A significant Bitcoin short position has been opened by a prominent crypto whale, according to blockchain data tracked by Lookonchain. The whale reportedly leveraged their positions to bet against the cryptocurrency’s price. The entry point for these high-risk trades was above $92,000, with the leverage amplifying potential gains and losses. The two short positions are estimated to be worth roughly $74.5 million combined and were opened at prices near $92,469 and $92,664. The corresponding liquidation prices for these trades remain relatively close, at $107,220 and $107,160, signaling significant potential volatility for Bitcoin.