BitcoinOG Whale Holds $140M BTC Shorts Reducing Positions by $87M
Key Points on Bitcoin Whale Activity and Market Impact
- A significant Bitcoin whale, labeled as "BitcoinOG(1011)," has placed public bets against BTC, depositing 100 BTC (worth $10.81 million) to Kraken.
- The whale holds $140 million in open short positions on Hyperliquid, marking an $87 million reduction from earlier positions.
- Since October 11, the whale has deposited a total of 5,352 BTC, approximately valued at $600 million, across major exchanges including Kraken, Binance, Coinbase, and Hyperliquid.
- Another trader, the "Trump Insider Whale," profited significantly during the October 10-11 crash by opening over $1 billion in shorts against Bitcoin and Ethereum.
- If multiple traders replicate trades from these whales, it could lead to notable market shifts.
- Currently, Bitcoin is trading at $108,079, experiencing a 2.16% loss over the past week.
Despite the recent bearish trend, investors like Binance's founder, Changpeng Zhao, remain optimistic about Bitcoin's long-term potential to surpass gold in market capitalization.