Lookonchain said the trader closed leveraged short positions on Bitcoin, Ethereum and Solana after four days, then quickly opened new shorts worth about $70.2 million in BTC and ETH.
A crypto whale closed 20x leveraged short positions on Bitcoin, Ethereum and Solana after four days, realizing about $4.4 million in profit, according to Lookonchain. The same address then swiftly re-entered the market with fresh high-leverage short bets of 912.9 BTC, valued at about $54.55 million, and 10,025 ETH, worth about $15.65 million. The move points to continued bearish positioning by a large trader using leverage (borrowed exposure that magnifies gains and losses) to bet on further downside in the two largest digital assets.