- A whale’s $520 million Bitcoin short position faces liquidation risk at $85,565.
- Bitcoin’s current price of $84,077 leaves the whale’s position close to forced closure.
- Technical indicators like MACD and RSI show weakening selling pressure in Bitcoin’s market.
A whale has increased their Bitcoin short position on Hyperliquid from $400 million to $520 million. Their new liquidation price is set at $85,565, placing the position less than $1,000 away from being wiped out.
Increased Short Position and Liquidation Risk
In a recent post by Bitcoin News on X, a Bear Whale has added $120 million to their existing short position, raising the total to $520 million. The liquidation price now stands at $85,565, meaning any upward price movement beyond this level could force the position to close.
Tracking the Liquidation Data, the portfolio contains $15.88 million in perpetual contracts with no spot or vault holdings. The open position is a short BTC trade with 40x leverage, valued at $522 million.
The entry price read at $83,898, while the current price is $84,077. Unrealized losses stand at $1.11 million, with liquidation set at $85,565. The liquidation map shows high cumulative short liquidations at lower price levels, while long liquidations increase above $85,514.
Bitcoin’s Price Volatility and Market Reaction
Bitcoin’s price has fluctuated near critical resistance levels, bringing it dangerously close to the short position’s liquidation point. If the price moves above $85,565, a forced liquidation could occur, potentially triggering a short squeeze.
MACD and RSI technical indicators suggest a cautious outlook for Bitcoin’s price. The MACD line (-2,673.62) remains below the signal line (-2,988.86), indicating a bearish momentum. However, the histogram shows declining negative bars, suggesting weakening selling pressure.
The RSI (41.48) remains below the neutral 50 level, indicating weak buying strength but avoiding oversold conditions. Bitcoin is trading at $83,294.82, facing resistance near $84,000 while support is seen at $80,000. A breakout above resistance could signal a reversal, but continued weakness in RSI and MACD suggests a probable retest of lower levels before any recovery.
