Bitcoin Surges 22% in Five Sessions as Institutions Shift Focus
The value of Bitcoin (BTC) has surged by around 22% over the past five sessions, closing above its 200-day moving average. This rare move comes as institutional and ETF flows rise, with traditional holders shifting their focus to crypto.
A key player in this market is a Hyperliquid whale holding a significant short position on BTCUSD. The whale (0x6046) has a 20x short of approximately $45.2 million at an average price of around $79,318, resulting in an unrealized loss of over $850,000 (-38.4%). Estimates suggest the position is likely to be liquidated at around $82,896.
Institutional investors hold around $1.38 billion worth of shorts in major crypto assets, including significant exposure to BTCUSD spot CFDs. This is seen as a hedge rather than an outright bearish position, according to TradingView.