Bitcoin Whale Takes Another Hit on $125M Short
A Bitcoin whale, known for its large trades, has booked another loss on its short position. On August 5, it opened a $125 million short trade, which has now triggered its fourth stop-loss. The whale has exited 300 BTC at a loss of $9,065, bringing the total realized losses to $988,000.
The trader still retains a significant portion of its short position, holding onto 1,700 BTC worth around $108 million at the current price of $63,710.5.
Despite the stop-loss, the market is showing signs of building momentum, with the MACD golden cross signaling a potential healthy retracement towards the 50-EMA before any sustained continuation.
The Bitcoin price is currently sitting above the EMA50 support at $63545.82 but below the EMA200 at $63685.21, and is testing the upper Bollinger resistance at $63457.42 with an RSI(14) of 54.6.