Bitcoin (BTC) not only failed to meet the historical bullish expectations in October and November, but also had its worst months in recent years.
As Bitcoin, which has been struggling with sharp declines for two months, begins to recover, whales are also updating their positions.
In a remarkable move in the crypto market, the whale with wallet 0x0ddf9 changed direction by closing his short position in Bitcoin at a loss and opening a long position.
According to Lookonchain’s post, the giant whale suddenly closed its short position at a loss and switched to a long position.
Accordingly, the whale closed a 1,000 BTC short position worth $91 million and opened a 3x long position of the same size. The whale’s liquidation price was $59,112.
The whale had previously opened a short position. According to the data, the whale opened a 3x short position of $1,000 BTC ($91 million) with an inflow of $89,765.6.
As Bitcoin’s rise has led whales to take an interest in long positions, a new whale wallet, 0x2c26, has also opened a long position in BTC.
“A new wallet, 0x2c26, opened a 20x long position at 563.68 BTC ($51.4 million) with an inflow of $90,278.7.
Liquidity price: $84,380.05.”
*This is not investment advice.