Whale's big move: increased short positions of 255 BTC to SOL, 20x leverage but has already lost 2.35 million dollars.

[On-chain news] An interesting on-chain movement is worth following. A certain Whale account previously sold 255 BTC and simultaneously shorted BTC and ETH. What's more, this Large Investor not only did not Close Position but also continued to increase their position — recently opening a SOL short position with 20x leverage. It seems that this trader has a clear bearish expectation for the short-term market trend.

However, the data shows that the cost of this operation is not small. As of now, the floating loss of this account has exceeded 2.35 million USD. This high-leverage shorting strategy is indeed very risky in a volatile market—once the market rebounds, the losses may further expand. Interestingly, even in a loss position, this whale is still adding to the position, either because they are very confident in the short direction or they are betting on a rebound opportunity after a big drop. This also reminds us that significant changes in on-chain large positions often reflect the market judgments of institutions or experienced traders, which are worth continuously following.