A significant whale has taken a 20x short position on Bitcoin, realizing an unrealized gain exceeding $30 million while generating $9 million solely from the funding rate. This trading strategy highlights the whale’s confidence in a downward price movement for Bitcoin. The unrealized gains indicate a substantial profit potential if the market continues to decline. The funding rate profits suggest that the whale is effectively capitalizing on market dynamics, leveraging short positions to enhance returns. Such trading activities can influence market sentiment and volatility, drawing attention from other investors and traders.
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