Bitcoin Whale Opens New $235M Short After Profiting $200M in Market Crash
Bitcoin whale bets against BTC again
A Bitcoin whale has opened a new $235 million short position against Bitcoin, signaling that big players may be preparing for further downside. The move comes just a week after the same trader pocketed roughly $200 million in profit from shorting the recent crypto market crash.
According to Hypurrscan data, the whale placed a 10x leveraged short on Bitcoin when prices hovered around $111,190. The position currently shows an unrealized loss of about $2.6 million and risks liquidation if Bitcoin surpasses $112,368. Blockchain tracker Arkham reported that the investor also moved $30 million to the Hyperliquid exchange to expand the short bet.
The whale reportedly shifted over $540 million worth of Bitcoin into new wallets, including $220 million transferred to Coinbase in the past week. This investor first gained attention two months ago for rotating around $5 billion of BTC into Ether, briefly surpassing SharpLink in total ETH holdings.
Market analysts suggest that large-scale whale activity contributed to Bitcoin’s limited price momentum in recent months. Data from CryptoQuant shows that new Bitcoin whales are sitting on about $6.95 billion in unrealized losses, with Bitcoin now trading below its average cost basis of roughly $113,000 — the steepest paper loss since October 2023.
Despite bearish sentiment, analysts believe Bitcoin’s drop to $104,000 served as a healthy correction, flushing out excess leverage and resetting the market for more stable trading ahead.
