A Bitcoin (CRYPTO: BTC) whale accumulated about $7.5 million in unrealized profit by successfully shorting the apex cryptocurrency amid the ongoing market correction.
What Happened: According to an X post by on-chain tracking platform Lookonchain Sunday, the trader shorted Bitcoin at approximately $96,500 on Feb. 22 and closed the position near the bottom at around $78,900 six days later.
The whale re-entered a short position at the peak of approximately $94,424 following the rally induced by President Donald Trump’s executive order establishing a Strategic Bitcoin Reserve.
As of this writing, they have set additional short positions at $92,449-$92,636 and placed limit orders to take profit between $70,475-$74,192.
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