Whale Takes $70M Bearish Bet on Bitcoin with $66K Liquidation Price

An anonymous cryptocurrency whale has opened a significant short position against Bitcoin, according to data from The Data Nerd.

The position, valued at $70.41 million, involves 1,100 BTC with 20x leverage.

The liquidation price of $66,305 is critical: if Bitcoin's price rises to that level, the position will be automatically closed, resulting in a total loss of the margin.

This type of high-leverage trade is common among sophisticated traders and can significantly impact market volatility.