Whale Who Netted $1.23 Million From Ethereum Long Now Flips Bearish With High-Leverage Bitcoin Short
A well-known crypto whale who recently scored big on an Ethereum (CRYPTO: ETH) long trade is now betting against Bitcoin (CRYPTO: BTC) — but not everyone agrees with the bearish shift.
What Happened: According to Onchain Lens, the trader known as “ETH 50x Guy” exited a $101 million Ethereum long with 25x leverage, locking in $1.27 million in profit.
He has since flipped bearish, opening a 40x leveraged short on Bitcoin, entering at $101,594.50 after transferring $4.28 million USDC to HyperLiquid. He entered trade at $101,594.5.
This move follows Bitcoin’s weekend dip below $100,000, which was quickly bought up due to strong ETF inflows and institutional support. Despite geopolitical uncertainty, Bitcoin held firm above key levels, which raises questions about the logic behind this aggressive short.
While some …
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