Whale Doubles Down On Massive 40X Bitcoin Short Ahead Of FOMC Meeting
A Bitcoin whale who placed a huge bet on a drop in the BTC price has doubled down on the trade as markets brace for key economic data this week. The whale initially opened a 40x leverage short position for over 4,442 BTC, valued at more than $368 million, according to data from Hypurrscan. In the last 24 hours, the whale has added to the position, with the total BTC in the short trade standing at more than 5,199 coins, worth over $432.7 million, as of 1:18 a.m. EST. Bitcoin Whale Sitting On $3.6 Million Unrealized Gain The position has so far worked out in the trader’s favor. Hypurrscan data shows the whale opened the position when the crypto market leader was trading at $83,923.20. Bitcoin has since dropped slightly to trade at $82,875. The liquidation price for the trade is $86,115. The pullback in BTC’s price has resulted in an unrealized gain of more than $4.1 million for the crypto whale so far. However, the trader has an over $382,000 loss on his posit...