The leading cryptocurrency, Bitcoin (BTC), continues to edge lower amid ongoing uncertainty surrounding a US-Iran peace deal.
At this point, as the BTC price dropped to $76,200, a whale once again opened a short position in Bitcoin.
According to the data, this whale opened 16 short positions on BTC in the past month, and today he opened his 17th short position.
On-chain data provided by the HyperInsight tracking system, which monitors Hyperliquid data, shows that a Bitcoin whale opened a 20x leveraged short position worth 300 BTC (approximately $23 million) with an average entry price of $76,612.
This whale account has opened 16 short positions since the beginning of the month, and so far, has had 9 profitable trades. Furthermore, according to the data, the whale has an average holding period of approximately 21 hours.
Apart from this, whale activity continues. Specifically, the whale with the address “bc1q8w” purchased 300 BTC worth approximately $23 million, after a two-year hiatus. This whale last bought 322.57 BTC worth $9 million from Binance two years ago at a price of $28,179.
According to Lookonchain, whales are buying Ethereum (ETH). Specifically, a whale with the address 0xE5eB purchased 4,361 ETH worth $9.98 million from Kraken approximately 5 hours ago, after a 3-month period of inactivity.
0xA605, a recently created wallet, purchased 2,000 ETH worth $4.58 million from Binance approximately an hour ago.
*This is not investment advice.
