Bitcoin News Today: Major Crypto Whale Qwatio Builds $188M Short Positions in BTC and ETH Amid Downtrend

A major cryptocurrency whale, identified by the username qwatio, has been aggressively building short positions in Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) in the lead-up to a recent market decline. The investor opened a short position of 1,111.11 BTC at a leverage of 40x, with an entry price of $117,297.50 and a current unrealized profit of over $5.2 million as Bitcoin traded at $112,546 [1]. The position is valued at approximately $125.1 million, with a liquidation price of $120,777.55, highlighting the whale's confidence in the downward movement [1].

In addition to Bitcoin, the whale opened a short position of 18,000 ETH in the last hour, with the overall ETH short position valued at around $63.28 million and generating an unrealized profit of $6.41 million [1]. The whale also increased short positions in XRP and SOL, with 3,330,000 XRP and 44,444 SOL reportedly added to the portfolio, respectively. The symmetry in the number of tokens—1,111 BTC, 22,222 ETH—has drawn attention among traders and analysts, suggesting a deliberate strategy [1].

Market observers noted that the whale’s moves align with broader trends of increased shorting activity. On major exchanges, the value of high-leverage short positions in XRP and SOL reached around $17.07 million, with XRP entering at $2.93 and SOL at $180 [3]. These moves indicate a bearish outlook, particularly as Ethereum has been one of the hardest-hit assets this month, with over $201 million in open positions lost from long positions [4].

The timing of these trades has led some traders to speculate that the whale may be anticipating further price corrections. A prediction market on Polymarket is currently tracking whether Bitcoin will close higher or lower on August 4, reflecting uncertainty among investors about the direction of the market [5]. Meanwhile, some market participants are watching for signs of accumulation, as trading volume rose by 25.38% to $1.38 billion on July 29, suggesting that large players may be taking advantage of the price pullback [6].

While short-sellers like qwatio have dominated the recent market sentiment, not all traders are bearish. Some analysts are keeping a watchful eye on altcoins such as Cardano and Shiba Inu, which are being positioned as potential breakout candidates in August. Others are monitoring projects like Remittix and Snorter Token for potential upside [8]. However, the actions of qwatio have reinforced the prevailing bearish mood, at least in the near term.

Source:

[1] https://coinmarketcap.com/community/articles/688e9841bb2abc0ce7668544/

[2] https://stocktwits.com/symbol/ETH.X

[3] https://www.binance.com/en/square/news/all

[4] https://www.btcc.com/en-US/square/Coingape/733895

[5] https://polymarket.com/event/bitcoin-up-or-down-on-august-4

[6] https://coincentral.com/best-altcoins-to-buy-now-cardano-shiba-inu-and-remittix-set-to-explode-in-august/