BTC and ETH big whales don open big short positions, dem make net profit $23.8M
Two big crypto whales don open heavy short positions, sign say bearish vibes dey for BTC and ETH. For July 8, one Bitcoin whale re-open im fourth $100 million+ BTC short, gather 1,097.47 BTC at average entry of $107,926.60. Through position averaging, e secure $14.2 million realized gains and now dey float $1.605 million profit, with liquidation price set at $116,510. Same day, one Ethereum whale put 50,000 ETH short at $2,725 with 10× leverage, boasting 100% win rate and floating profits of $9.56 million. This whale before don make over $20 million unrealized gains from 40,000 ETH short at $2,200 around mid-June. These big BTC and ETH short positions from whales show strategic risk management and fit mean short-term market fit drop. Traders suppose dey track whale shorts as key signs for market direction.
Bearish
Big short positions wey big Bitcoin and Ethereum whales carry show say plenty institutional traders get strong bearish mind. Di Bitcoin whale fourth $100 million+ BTC short plus big realised and floating profits dey show say dem get confidence say price fit still go down more. Same way, Ethereum whale 50,000 ETH short for 10× leverage plus previous success trades dey show say dem dey expect more fall for ETH price. Traditionally, whale shorting dey usually happen before market correction, as dem dey use market downturn take make profit. For short term, dis kind moves fit increase selling pressure and wahala (volatility), fit push price down. For long term, if whales keep betting bearish, e fit set resistance level, stop bullish moves until we get on-chain or macro catalysts. Traders suppose dey watch leverage levels and liquidation levels to understand risk and possible chain reaction.