Bitcoin Whale Doubles Down on Short Position, Facing $1.17 Million Unrealized Loss

A major Bitcoin whale has significantly increased their short position, now holding 666 BTC worth approximately $74.43 million. This move comes with an unrealized loss of $1.17 million, according to on-chain analyst Ai Auntie. 666 BTC represents a substantial portion of the short position held by this whale and highlights market volatility. While the specific motivations behind this action are unclear, the impact of large-scale trades continues to be noticeable in Bitcoin’s short-term price fluctuations.