Data from the on-chain monitoring platform Onchain Lens shows that a cryptocurrency whale has made another move, shorting Bitcoin (BTC) on a large scale with a leverage of 40 times. The value of this short position exceeds 55.65 million US dollars. This bold operation has drawn high attention from the market.
It is worth noting that this giant whale has encountered setbacks in its past BTC short selling transactions. Previously, its two short selling operations ended up with a loss of approximately 3.03 million US dollars. Despite having failed experiences before, this time the whale still chose to bet on the decline of Bitcoin’s price with high leverage, demonstrating its strong judgment on the market trend.
Against the backdrop of the recent strong performance of the Bitcoin market and its continuously rising market value, the emergence of this huge short position undoubtedly adds more uncertainties to the market. Investors and analysts are closely monitoring the subsequent market dynamics, attempting to interpret the potential impact of the giant Whale’s move on the BTC price and whether it will trigger more market participants to follow suit.
At present, market sentiment is complex and volatile. Whether Jujing’s bold bet this time is an accurate prediction or another failure remains to be seen. As the volatility of the cryptocurrency market persists, its subsequent developments deserve continuous attention.
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