Bitcoin Whale Cements Profits with $500 Million Short Closure Amidst Market Volatility

A significant Bitcoin short position, estimated to be worth over $10 billion, has been closed by a mysterious whale. This move comes after the cryptocurrency experienced a dramatic plunge below $111,000, triggering over $638 million in liquidations. Arkham Data, which tracks high-net-worth crypto whales, revealed that this whale recently closed their short position for $500 million, resulting in an unrealized profit of $11.8 million before the full closure. Analysts speculate this reflects a strategic exit as market conditions shifted.