Crypto Whale Closes $270M Shorts… Then Reopens Them Like It’s 2017

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A whale address tracked by Lookonchain exited leveraged short positions on Bitcoin, Ethereum, and Solana worth more than $270 million. 🐋💸

A large crypto trader recently drew market attention after closing massive leveraged short positions across major digital assets. Because nothing says “I’m a big shot” like closing your shorts and then immediately opening new ones. 🤡

On-chain data showed fast position changes, large capital movement, and renewed short exposure. The activity followed rising prices and strong liquidity signals, increasing focus on whale trading behavior. Because nothing says “I’m a genius” like betting against the market and then doubling down. 🧠💥

Whale Closes Large Leveraged Shorts Across Major Assets

Blockchain monitoring platform Lookonchain reported a whale closing short positions exceeding $270 million in value. Because why hold a losing bet when you can just throw more money at it? 🤷‍♂️

The positions covered Bitcoin, Ethereum, and Solana across multiple derivative platforms. Because why have one hedge when you can have three? 🐍📈

The “Sold 255 BTC to short” whale closed over $270M worth of BTC/ETH/SOL short positions, taking a loss of ~$50K. 🎉

– Lookonchain (@lookonchain)

Data showed the trader initially sold 255 Bitcoin to start short exposure during earlier market conditions. That sale was valued at nearly $21.77 million at the time of execution. The proceeds supported leveraged positions using different ratios across the three assets. Because nothing says “I’m a risk-taker” like using 25x leverage on a coin that’s basically a rollercoaster. 🎢

Bitcoin shorts used ten times leverage, while Ethereum used fifteen times leverage. Solana positions carried a higher risk, with leverage reaching twenty-five times. These combined positions reflected a high exposure to downward price movements. Because who needs sleep when you can bet against the market? 😴📉

Market prices later moved higher, leading to the closure of the full short basket. Lookonchain data estimated the total realized loss to be near $50,000. The loss amount appeared limited relative to the overall position size. This suggested timely position management during changing market conditions. Because nothing says “I’m a pro” like cutting your losses and then immediately re-entering. 🧠💸

Trader Reopens Large Short Positions After Closure

Following the closure, the same address showed renewed trading activity within hours. Lookonchain identified new short positions opened across Bitcoin, Ethereum, and Solana markets. Because nothing says “I’m confident” like doubling down after a loss. 🤑

The trader increased Bitcoin exposure significantly, opening shorts on 1,360 Bitcoin. That position carried an estimated value of $119 million. Because who needs sleep when you can bet against the market? 😴📉

Ethereum exposure also expanded, with shorts opened on over 36,000 Ether. Those Ether positions were valued at around $106 million. Because why have one hedge when you can have three? 🐍📈

Solana shorts reached over 348,000 tokens, valued at nearly $43 million. The combined value of reopened positions exceeded $260 million. Because nothing says “I’m a genius” like risking it all on a coin that’s basically a rollercoaster. 🎢

These transactions occurred within a five-hour window based on blockchain timestamps. The activity suggested continued conviction in a near term price pullback. Because nothing says “I’m a visionary” like betting against the market. 🧠📉

On-chain data confirmed the same wallet address controlled both closed and reopened trades. The address identifier was labeled 0x94d3 by monitoring platforms. The timing coincided with increased market volatility across major crypto assets. Because nothing says “I’m a thrill-seeker” like trading during a market crash. 🚀

Prices showed upward movement while leverage usage remained elevated. Because nothing says “I’m a risk-taker” like using 25x leverage on a coin that’s basically a rollercoaster. 🎢

Trader 0x94d3, who sold 255 ($21.77M) to initiate shorts, opened more shorts on 1,360 ($119M), 36,281 ($106M), and 348,215 ($43M) again over the past 5 hours. 🧠💸

– Lookonchain (@lookonchain)

Related Reading: Whale Withdraws 366364 LINK Worth $4.5 Million From Binance In Two-Day Span

Liquidity Conditions and Market Structure Provide Context

Market analysts also noted broader macro liquidity developments during this period. Federal Reserve liquidity injections increased short-term funding availability. Because nothing says “I’m a financial wizard” like betting on a Fed rate cut. 🧙‍♂️

Industry figures commented that liquidity conditions may continue expanding gradually. Because nothing says “I’m a prophet” like predicting more liquidity. 📈

Institutional holdings of Bitcoin and Ethereum were also reported as stable. This ownership structure reduced the available supply on open markets. Because nothing says “I’m a savvy investor” like hoarding crypto. 🏦

Reduced supply can amplify price moves during periods of rising demand. As prices rise, leveraged short positions face higher liquidation risk. This environment increases pressure on traders holding bearish exposure. Because nothing says “I’m a masochist” like shorting a rising market. 🤯

Some earlier short sellers reportedly exited positions with limited losses. Later exits occurred at higher prices, increasing realized losses. Because nothing says “I’m a fool” like holding onto a losing bet. 🤡

Companies with strong balance sheets reportedly retained the capacity to buy market dips. Such activity supports price levels during pullbacks. Because nothing says “I’m a hero” like buying the dip. 🦸‍♂️

The whale activity tracked by Lookonchain reflected these broader conditions. Large traders adjusted exposure quickly as market structure shifted. On-chain transparency allowed real-time tracking of these movements. The data offered insight into leverage behavior during rising markets. Because nothing says “I’m a detective” like tracking a whale’s every move. 🔍

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2025-12-30 14:35