A large cryptocurrency whale, holding approximately $11 billion in Bitcoin, has opened nearly $900 million in leveraged short positions against Bitcoin and Ether, signaling anticipation of a market correction despite the optimism of October.
The whale initiated an 8x leveraged $600 million short on Bitcoin and a $330 million 12x short on Ether. These sizable bets suggest confidence in falling prices but could be liquidated if Bitcoin rises above $133,760 or Ether exceeds $4,613.
Earlier, the whale moved $360 million in Bitcoin, attracting market attention. The whale’s Ether short position showed an unrealized profit of $2.6 million, indicating effective timing amid market shifts. While the whale's actions highlight large investors’ growing bearish sentiment, selling pressure mainly comes from smaller holders—retail addresses controlling under 100 BTC. Over 52% of Bitcoin holders on exchanges are short, reflecting broader caution among traders.
Bitcoin recently reached an all-time high of nearly $125,700 but has since retraced to around $121,350. Analysts advise watching key support zones between $1,000 and $1,084 for BNB’s next moves.
