A newly active whale wallet has opened a leveraged short position on 1,100 BTC ($64.95 million) with 20x leverage, setting a liquidation price at $67,914, according to on-chain monitoring from LookOnChain. The same wallet simultaneously withdrew 9,876 ETH ($15.4 million) from Binance and deposited the holdings into a staking contract, signaling divergent positions on Bitcoin and Ethereum.
The wallet's recent trading history reveals significant losses. Over five months ago, it purchased 2,468 ETH at $3,327 per token ($8.21 million), but liquidated that same amount today at $1,572 per ETH ($3.88 million), crystallizing a $4.33 million loss on the position, according to LookOnChain data. The liquidated ETH sale suggests the wallet may be raising capital or repositioning exposure ahead of the new leveraged Bitcoin bet.
The contrasting moves—shorting Bitcoin with extreme leverage while staking fresh Ethereum—indicate the whale is taking a directional bearish view on Bitcoin price near current levels while maintaining long-term conviction in Ethereum's protocol participation. The tight liquidation price on the Bitcoin short leaves minimal room for upside movement before forced position closure, a common strategy for experienced traders anticipating imminent downside.