Post
$BTC Whale Flips Bearish Cuts $6M Loss on Longs, Opens Massive $60M Short on ETH
On chain data from Lookonchain has just recorded a surprising reversal move from a major whale wallet (starting with 0x0ddf).
🔸 After incurring a realized loss of approximately $6.20 million from closing Long positions on both ETH and BTC, this whale has decided to completely shift strategy to the Bearish side.
🔸 Specifically, the wallet just opened a 2x leveraged Short position on 20,000 ETH, with a total value reaching $60.40 million.
This decisive cut and reverse action with such large capital suggests the whale is extremely pessimistic about the short term trend. Is this a wise decision or a selling the bottom mistake?
News is for reference, not investment advice. Please read carefully before making a decision.
On chain data from Lookonchain has just recorded a surprising reversal move from a major whale wallet (starting with 0x0ddf).
🔸 After incurring a realized loss of approximately $6.20 million from closing Long positions on both ETH and BTC, this whale has decided to completely shift strategy to the Bearish side.
🔸 Specifically, the wallet just opened a 2x leveraged Short position on 20,000 ETH, with a total value reaching $60.40 million.
This decisive cut and reverse action with such large capital suggests the whale is extremely pessimistic about the short term trend. Is this a wise decision or a selling the bottom mistake?
News is for reference, not investment advice. Please read carefully before making a decision.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.