Whale Sells 255 BTC, Opens $77.4 Million Short Position on Bitcoin and Ethereum as BTC Slides Below $87,000
The post Whale Sells 255 BTC, Opens $77.4 Million Short Position on Bitcoin and Ethereum as BTC Slides Below $87,000 appeared on BitcoinEthereumNews.com.
Today, a major crypto whale attracted market attention after he sold 255 Bitcoin tokens worth $21.77 million at an average price of $85,378, according to transactions flagged by market analyst Lookonchain. After selling, the whale opened 10x leveraged short positions on 876.27 BTC (valued at $76.3 million) and 372.78 ETH (valued at $1.1 million), betting on drops in Bitcoin and Ethereum prices. This means that he now positions himself for downward price movements on decentralized derivatives exchange Hyperliquid. Of late, the prices of the two digital assets have dropped to lower levels as sell-offs continue to weigh down their movements. BTC and ETH are currently standing at $87,859 and $2,953, down 4.7% and 9.2% over the past week, respectively. This is a reflection of further declines in cryptocurrency markets as investor fear heightened despite the Fed’s recent interest rate cut last week, on Wednesday, Dec. 11. Whale 0x94d3 sold 255 $BTC($21.77M) at an average price of $85,378 over the past 7 hours, then opened a 10× short on 876.27 $BTC($76.3M) and 372.78 $ETH($1.1M).https://t.co/F5ZzUHVrHd pic.twitter.com/0WEVosUWeA — Lookonchain (@lookonchain) December 19, 2025 Whale’s Short Positions Come Amid Struggles In Crypto Markets The whale launched massive short positions in Bitcoin and Ethereum as he believes that the crypto prices will further fall. The institutional investor appears to be guided by some unfolding events in the larger crypto market. An important development being noticed in the market is that currently, large investors’ long positions are witnessing difficult situations as their profits have significantly decreased due to renewed price drops. According to today’s data from Lookonchain, the profits of a whale who holds a long position in ETH and HYPE have dropped substantially because of poor market performance. As per the data, the big investor holds 59,733 ETH (worth $169 million) in long positions, with…
Filed under: News - @ December 20, 2025 12:20 am