While Bitcoin has been exhibiting sudden movements lately, giant whales are trying to make profits by opening short and long positions with large leverage during these movements.
At this point, a crypto whale also opened a short position worth millions of dollars in Hyperliquid.
According to Lookonchain's post, the whale with the address Cbb0fe opened a short position of over $445 million in BTC with 40x leverage.
The whale's liquidation price was $86,000.
Seeing this, a team took action to liquidate the whale and increased the price of Bitcoin, but they were unsuccessful in liquidating the whale.
While the team could only push the Bitcoin price up to $84,690, the whale added another 5 million USDC to its position to protect against the risk of liquidation.
“This whale was hunted by a team and still managed to make a profit!
11 hours ago, Cbb0fe formed a team to hunt down this whale who was shorting BTC with 40x leverage.
Just an hour later, the team took action and quickly pushed BTC above $84,690.
However, the attempt failed.
“The whale is currently making a profit by closing positions on Twap. His current position is 5,406 BTC (worth $449 million) and his unrealized profit is $4.4 million.”
While the whale expects a decrease in the price of Bitcoin, he opened a 5x long position in MELANIA, stating that he expects an increase in the memecoin of Melania Trump, the wife of US President Donald Trump.
https://twitter.com/lookonchain/status/1901469533224968503
*This is not investment advice.
