Whale closes $516M 40x Bitcoin short, pockets $9.4M profit in 8 days

Quick Summary:

A large crypto investor, or whale, made nearly $10 million profit after closing a 40x leverage short position for 6,210 Bitcoin (BTC) — worth over $516 million — which functions as a de facto bet on Bitcoin’s price fall.

The whale managed to turn a profit, despite having to add $5 million to his short, after a publicly-formed team of traders started to “hunt” his short position’s liquidation, which ultimately failed, noted Lookonchain, in a March 17 X post.Bitcoin whale made $9.4 million in profit.

Source: HypurrscanThe savvy whale closed all his short positions within a few hours, making a $9.46 million profit from Bitcoin’s decline, Hypurrscan data shows.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United States

Topics: Profit Whale Million Price Monetary Short Bitcoin Positions Position Closed Easing

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 09:48:38 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 502 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27148201

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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Year Established: 2013

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News Last Updated: 8 hours ago

Coverage Areas: United States

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Publisher ID: #11

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