BTC Whale Takes $1.54M Hit on Leveraged Short Position

A high-stakes Bitcoin trader has taken a significant hit on a leveraged short position. The BTC whale opened a 40x leveraged short on 1,600 BTC ($102 million) two days ago and has now lost $1.54 million after repeated stop-outs during the rebound.

The trader's position saw 700 BTC ($45.6 million) liquidated across multiple triggers, leaving 900 BTC short ($58.66 million) with an updated liquidation price at $64,998.

According to technical analysis, the current price of $64,870.46 holds above the EMA50 support at $64,127.75 while pressing against upper Bollinger resistance at $65,047.72. The MACD golden cross at 255.04 reinforces a bullish structure and the RSI at 60.48 allows for further upside before any pullback to the EMA200 at $63,652.97.