Lookonchain reported that a big Bitcoin whale, who did a huge leveraged short, has capitulated on a huge position. The same trader had made an opening move of an entry price of $89,765.6, the trader who made more than $10.6 million in profit on Hyperliquid had previously opened a 3x short at $91 million on 1,000 BTC.

Whale 0x0ddf9 who was shorting $BTC has capitulated and flipped long.

He closed his 1,000 $BTC($91M) short at a $1.6M loss, then opened a 3x long on 1,000 $BTC($91M), with a liquidation price of $59,112.https://t.co/AERSdGNMG7 pic.twitter.com/c3kvUAV1cP

As the price of Bitcoin increased, the position of the whale got worse, and it suffered unrealized loss of $1,160,000, and liquidation level stands at $122,937.28. The increasing price made the trader leave the short, cashing in a realized loss of approximately similar worth.

As 0x0ddf9 was losing short, the market sentiment was taking a different turn. Another wallet, 0x2c26, went the other way and entered a long worth 20x 563.68 BTC at a price of $90,278.7, which is about 51.4 million dollars.

This high-leverage long, which was aggressive in nature, had a liquidation price of $84,380.05, and this indicates the confidence of the trader, or the willingness to take risk, with BTC settling in the range of its entry. The position soon crossed into profit with PNL of $524,000 indicating high bullish belief at the same time 0x0ddf9 was in short position.

Whale 0x0ddf9, just hours after taking a losing short, went long again, taking a new 3x leveraged long on 1,000 BTC valued at 91.6 million dollars. The new long was acquired at an entry price of $91,437 and liquidation price at a significantly lower point of $59,111 allowing the whale significantly more breathing room than the short position.

Such a sharp turn is the indication that the whale became bullish, probably due to the rise in the price of Bitcoin and the development of a positive mood in the market. The new long position, as of the most recent update, is already showing signs of profitability, with an unrealized profit of $207,910 on the dashboard of Hyperliquid.

The violent movement of the high leverage Bitcoin trade demonstrates how volatile the trading can be, with even the whales losing more than gaining within a few hours. Trading Bitcoin closely within the $90,000 to $92,000 band, big leveraged players are taking aggressive positions at times flipping within hours.

In the face of uncertain markets, traders are keeping an eye on both whale wallets as the next step to learn their broader sentimental positions in the Bitcoin derivatives market.

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