Crypto Whale $168M BTC & ETH Shorts Don Bring $5.86M Profit
For August 2, monitoring data show say one crypto whale don increase e ETH short to 11,111.11 ETH and also open BTC shorts at the same time, push im total short portfolio pass $168 million. The combined unrealized profit on these BTC and ETH shorts reach $5.86 million—with $3.24 million come from the ETH short alone—this one dey reflect strong bearish sentiment. Traders wey dey watch this crypto whale fit use ETH short and BTC short movements as early signs of potential price corrections. To include whale data into wider analysis dey help make risk management better when volatility dey high.
Bearish
For short term, di big crypto whale de get plenty BTC and ETH short position fit increase selling pressure and cause price drop as market dey expect say dem fit liquidate. These big big position dey make market shake more and e fit make price sharp down quickly. For long term, if influential whales keep dey put bearish bets, e fit make market lose confidence and stop bullish movement until whales comot or market mind change. So, current whale activity dey show say prices for BTC and ETH fit go down.