Bitcoin Bear Adds to Short Position Amid Price Slide

A prominent Bitcoin bear continues to expand their short position despite the cryptocurrency's recent price slide. According to data from Lookonchain, the trader has increased their leveraged position to 2,000 BTC, now holding the largest on-chain short position in Bitcoin.

The unknown market pessimist is currently sitting on an unrealized profit of nearly $2 million at today's prices, but their liquidation levels are not far off. The current price at which they will be wiped out is just over $63,500.

Bitcoin has lost its $63,000 support despite positive CPI and PPI data from earlier in the week, allowing the bear to maintain their position.