Bitcoin Whale Takes Short Bet, Holding $234M as Market Bounces

A well-known Bitcoin investor with a history of profiting from market downturns has taken a new short position, totaling approximately $234 million, suggesting skepticism about the current rebound. This move comes during Bitcoin’s surge to nearly $114,000, leading some to see potential for further growth. However, this whale believes that the rally might be temporary and is hedging by betting against its continued rise. The liquidation trigger for this position sits around $123,000—meaning if Bitcoin rises beyond this level, the trade could be closed forcefully. This move highlights the ongoing uncertainty surrounding the market’s trajectory.