Bitcoin Whale Opens $235M Short Position as BTC Slides Below $108K
A massive crypto whale just bet $235 million against BTC. The same trader who made $200 million shorting BTC's drop to $100,000 last week.
Quick overview
- A crypto whale has placed a $235 million bet against Bitcoin, leveraging their position at 10x when BTC was near $111,190.
- This trader previously made $200 million by shorting Bitcoin's drop to $100,000, indicating a successful track record.
- While this whale is profiting, newer Bitcoin whales are facing $6.95 billion in unrealized losses as Bitcoin trades below its average cost basis.
- The upcoming price levels of $112,000, $108,000, and $104,000 are critical for Bitcoin, with potential for significant market movements.
A massive crypto whale just bet $235 million against Bitcoin. The same trader who made $200 million shorting BTC’s drop to $100,000 last week is back with another leveraged position, according to blockchain tracking data from Hypurrscan.
The short was opened when Bitcoin sat near $111,190, using 10x leverage. With BTC now trading around $108,000, the position is already in profit. Arkham Intelligence flagged the move, noting the whale transferred $30 million to Hyperliquid before placing the bet.
This trader has been on a winning streak. Just days ago, the same wallet locked in over $200 million betting against Bitcoin’s fall to $100,000. Getting the timing right twice in a row has people watching this whale’s every move.
The investor first showed up in September when they rotated roughly $5 billion worth of Bitcoin into Ethereum. That swap briefly made them one of the largest non-corporate ETH holders, bigger than some corporate treasuries.
Not every whale is winning right now. CryptoQuant data shows newer Bitcoin whales are sitting on $6.95 billion in unrealized losses. Bitcoin dropped below its average cost basis of $113,000, leaving large holders underwater.
“Bitcoin is trading below its average cost basis, leaving whales with the largest unrealized loss since October 2023,” CryptoQuant posted.
Glassnode data backs this up. Short-term holder supply has increased, suggesting traders are taking on leverage again after overleveraged long positions got wiped out recently.
The next test for Bitcoin is $112,000. That’s where a bunch of liquidations are stacked up, which could cause wild intraday moves. Miss that level? Support comes in at $108,000 and $104,000, sitting close to the 200-day moving average.
Whether this whale is just lucky or actually knows something others don’t, their trades have become a barometer for how big money views Bitcoin right now. The $235 million short comes as tariff concerns and the U.S. government shutdown add uncertainty to markets.
The timing matters. Bitcoin whales don’t usually place bets this size without strong conviction. This trader’s track record over the past few weeks suggests they’re reading market conditions better than most.
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