Bitcoin is holding its rebound above $90,000, and two whale wallets abruptly shifted their positions after weeks of market corrections. Address 0x0ddf9 closed a 1,000 BTC short worth $91 million and opened a 3x long of the same size, with a liquidation price at $59,112. The move indicates that part of the capital is moving away from bearish strategies after one of BTC’s worst months in years.
A second high-risk position emerged as wallet 0x2c26 opened a 20x long on 563.68 BTC for $51.4 million, with a liquidation level at $84,380.05. Both trades show a tactical adjustment in a market where Bitcoin’s rebound is drawing leveraged exposure and forcing restructuring after October and November.
The market is monitoring these positions closely due to their influence on liquidity and overall derivatives leverage. Bitcoin is trading again above $90,000, and the coming days will reveal whether the shift toward long positions gains volume or remains limited to isolated moves by major wallets
Source: https://x.com/lookonchain/status/1994334425773941165
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