Join Our Telegram channel to stay up to date on breaking news coverage
A whale that opened a $516 million 40x bet that the Bitcoin price will drop has closed his position.
According to Hyppurscan data, the large trader opened a short position for 6,210 BTC. In the last few hours, the whale opted to close his position, yielding a $9.4 million profit.
Bitcoin Whale Had To Add $5 Million To Prevent Liquidation
The whale’s large Bitcoin short position attracted a lot of attention from the crypto community, especially Bitcoin maxis. A publicly-formed team of traders even tried to “hunt” the whale’s short position and force the large traders into liquidation. As a result, the whale had to add $5 million to his position to prevent the liquidation from happening, according to Lookonchain.
This whale still managed to turn a profit despite being hunted by a team!
11 hours ago, @Cbb0fe publicly formed a team to hunt this whale who shorted $BTC with 40x leverage.
Just one hour later, the team was in action, driving $BTC above $84,690 in a short period.
The whale… pic.twitter.com/D6FBOFikZR
— Lookonchain (@lookonchain) March 17, 2025
After closing the BTC short position, the whale started acquiring the largest altcoin by market cap, Ethereum (ETH). Data from Etherscan shows the whale has scooped up over 2,300 ETH coins for more than $6.1 million earlier today.
Best Crypto To Buy As Massive Short Position Leaves BTC’s Order Book
With the whale closing its massive Bitcoin short position, the crypto market king could start to rise. For investors looking to position themselves ahead of this potential increase, new meme coin BTC Bull Token (BTCBULL) might be the best crypto to buy.
The project is a BTC-themed meme coin, and aims to support the crypto market leader on its journey to $1 million per coin and beyond. As Bitcoin climbs to new heights, the project will reward its token holders with BTC airdrops and BTCBULL token burns at certain price milestones.
According to BTC Bull Token’s website, the next airdrops will happen when Bitcoin’s price reaches $150K and $200K for the first time.
Along with the Bitcoin airdrops, there will also be BTCBULL burns that will remove tokens from the supply permanently. This will increase the scarcity of the crypto, which, coupled with the demand from investors looking to get in on the BTC airdrops, could lead to a price surge.
Several experts have already stepped forward to share their bullish predictions for BTCBULL. Among them is YouTuber Alessandro De Crypto, who has over 14.4K subscribers and said that BTCBULL could print massive gains for investors.
BTC Bull Token has already raised over $3.7 million through its ongoing presale.
Interested investors can purchase the meme coin via the buy widget embedded on the project’s website using either crypto or bank card. Selling for $0.002415, anyone looking to buy at the best rate will want to act fast before the next presale hike scheduled to come into effect in 22 hours.
Related Articles:
- Canary Capital Files Proposal For SUI ETF
- Binance Lands Biggest Ever Crypto Investment
- Immortal Rising II Sets To Launch Its Immortal Statue NFTs
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
