Bitcoin Whale Doubles Down on Short Position

A notable Bitcoin investor, previously active in the Ethereum market, has significantly expanded their short position on the cryptocurrency. The whale’s leverage has been amplified from 8x to a hefty 10x, resulting in a current short holding of 6,188.7 BTC worth approximately $750 million. This bearish bet has incurred an unrealized loss of $3.46 million, with the liquidation threshold at $130,810.