Whale Dey Reopen $235M 10x BTC Short for $111K Amidst $7B Unrealized Losses
One big Bitcoin whale don open $235 million 10x leveraged short between $111,000 and $111,500 again, after e make over $200 million profit from last week wake crash go $100,000. On-chain data show say big holders dey face almost $7 billion unrealized loss as Bitcoin dey trade under im $113,000 average cost. Another whale increase im bearish exposure to 2,100 BTC, holding $5.8 million for paper gains. Negative funding rates, rising volatility and forced liquidations mean say bearish feeling still dey. Technical charts show resistance for $112,000 and support close to $108,000 and $104,000 (200-day MA). Traders suppose watch liquidation clusters around these levels for sharp inside day swings fit happen.
Bearish
Di reopening of $235 million 10x leveraged short wey one big Bitcoin whale do, plus di growing bearish exposure from other whales and almost $7 billion unrealized losses, dey show say di market sentiment be negative. Negative funding rates, rising volatility plus forced liquidations mean say short term down movement fit continue. Technical resistance for $112,000 fit stop any rebound, while support levels for $108,000 and $104,000 need sharp watch for liquidation movements. Dis combination of things show say bearish pressure go still dey for Bitcoin price outlook.