BTC whale switches from $91M short to 3x long position

A crypto whale who previously opened a short position of 1,000 BTC valued at around $91 million has closed the bet at a $1.6 million loss and switched to a 3x leveraged long position with a liquidation price near $59,112, according to data tracked by Lookonchain.

The shift comes as Bitcoin continues to hold above key support levels despite recent market drops. Traders have been adjusting their strategies in response to ongoing volatility, with some modifying short exposure or using leveraged positions on major trading platforms.

Bitcoin is trading at $91,500, up 11% over the past week, according to CoinGecko. The digital asset sits around 27% below its early October peak of more than $126,000.