Crypto Whale Bets Against Bitcoin and XRP With $140 Million in Shorts

A crypto whale has recently opened two heavily leveraged short positions against Bitcoin and XRP, totaling $140 million, with the positions yielding a profit of approximately $3.1 million in just nine hours. The whale utilized 20x leverage, entering the Bitcoin short at an average price of $102,978 and the XRP short at $2.30. This trading activity comes amid a reported downturn in the crypto market, where institutional investors express concerns of a potential bear market, indicated by Galaxy's revised Bitcoin price target drop from $185,000 to $120,000. Speculation surrounds the whale's advantage, especially after a similar trader allegedly profited $200 million from strategic shorts before a market crash connected to a tariff announcement by President Trump. The current market sentiment is further shifting to bearish as indicators like the Fear and Greed Index signal extreme fear among investors, raising questions about Bitcoin's future price trajectory after experiencing a 17% drop this month, dipping below the $100,000 mark for the first time in six months. Trading patterns suggest that, despite the current bearish trends, not all investors share the same outlook as some predict a future price recovery.

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