A 40 times high-stakes Bitcoin trader has reemerged with a new $27.5 million bet in favor of shorts against BTC, placing a liquidation price of $85,545. The recent position follows the same trader’s earlier closing of a massive short just before the FOMC meeting, suggesting a more aggressive stance as the market demonstrates increased volatility.
Bitcoin, close to $84,000 after 4% in the green, fell as the Federal Reserve kept interest rates steady at 4.25%- 4.5% while reiterating text on two cuts in 2025. They also finally lowered GDP expectations to 1.7% and suggested a slower pace of quantitative tightening, giving forward guidance of gradual easing of financial conditions.
However, this was not an isolated win. The same whale reportedly netted $16.39 million in under a month on eight perfect trades across two wallets, including this short.
In early March, they also made a profit of $68 million on a 50x leveraged Ether (ETH) short after an 11% price decline. However, the $516 million BTC short exited just before the FOMC meeting on March 19—the latest and most rewarding short position before this suspected turnaround into a long position of $37.9 million.
Bitcoin has had difficulty breaking above the $90,000 price resistance, currently at $85,464.34. This whale’s repeated shorting shows a lack of faith in BTC’s potential to continue a rally.
