Crypto Whale’s $168M BTC & ETH Shorts Yield $5.86M Profit
On August 2, monitoring data shows a crypto whale expanded its ETH short to 11,111.11 ETH and opened concurrent BTC shorts, pushing its total short portfolio above $168 million. The combined unrealized profit on these BTC and ETH shorts reached $5.86 million—with $3.24 million from the ETH short alone—reflecting strong bearish sentiment. Traders watching this crypto whale can use ETH short and BTC short movements as early indicators of potential price corrections. Integrating whale data into broader analysis helps refine risk management amid heightened volatility.
Bearish
In the short term, the crypto whale’s substantial BTC and ETH shorts may increase selling pressure and prompt price declines as markets anticipate potential liquidations. These large-scale positions often heighten volatility, leading to rapid downward moves. Over the long term, persistent bearish bets by influential whales can erode market confidence, discouraging bullish momentum until whales unwind or the broader sentiment shifts. Thus, the current whale activity suggests a bearish outlook for BTC and ETH prices.