Biggest BTC Short Hits $125M
An unknown trader described by Lookonchain as the largest on-chain Bitcoin bear has continued increasing their short position. The trade has now reached 2,000 BTC, worth approximately $125.37 million. The position is currently showing an unrealized profit of around $1.79 million, but the liquidation level remains dangerously close at approximately $63,529. Bitcoin recently failed to break above $65,000 before falling below the $63,000 support area. CryptoQuant analysts point to several factors limiting a recovery, including a negative Coinbase Premium, weaker spot Bitcoin ETF inflows and insufficient spot trading volume across centralized exchanges. For xbit.money users, the situation highlights the importance of monitoring BTC price movements and volatility when exchanging crypto. Track the latest Bitcoin rate and exchange conditions with xbit.money.