A notable crypto whale has made a dramatic return by opening a 40x short position on Bitcoin worth approximately $118.8 million.
Return to Market with Short Position
The whale, who previously realized $13.6 million in profits on Hyperliquid, is back with a high-risk 40x short position on Bitcoin (BTC), making waves amid current market trends.
Initial Gains: $1.1M Unrealized Profit
Despite the high leverage and associated risks, the trade is already showing an unrealized profit of $1.176 million, including funding fees. The quick turnaround indicates that the whale may be targeting short-term volatility or reacting to bearish market signals.
Market Impact
Large short positions, especially leveraged ones, can put pressure on spot and derivatives markets. If Bitcoin continues to decline, this trade could add downward momentum to the price action. However, if BTC rises and nears the liquidation price, the short could be rapidly liquidated. This highlights the high stakes involved in crypto trading and how experienced players continue to make calculated risks even in volatile conditions.
Meanwhile, such moves by whales continue to attract interest from analysts, underscoring the complexity and unpredictability of the cryptocurrency market.
