Bitcoin Whale's Short Selling Spree Ends with $5M Loss

A Bitcoin whale has suffered their 16th consecutive loss in a row, totaling $5.25 million over the past month.

The whale opened a short position of $38.07 million with 20x leverage on August 19, but was forced to close the trade after only 60 hours, locking in a loss of $288,000.

This is not an isolated incident for this whale, as they have consistently lost money since switching to short positions on August 19. Their cumulative losses over the past month are estimated at about $5.25 million.