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On-chain data revealed that a major Bitcoin whale lost its rise expectations and transferred the profits obtained from selling into a short position.
According to data shared by the crypto analysis platform Lookonchain, a whale with the address "0x01ef" recently executed a sale of 197 Bitcoin (BTC). The total value of this sale, made at an average level of $108,398, was approximately $21.35 million. After the sale, the whale turned to a leveraged trade, anticipating that the market would decline.
According to the data, the whale opened a 3x leveraged short position of 561 BTC using the funds obtained from selling. The size of this transaction was recorded as approximately 60.89 million dollars. This move clearly indicates that the investor expects a decline in the price of Bitcoin in the short term.#Gate Square Creator Spark Program