Silent_Trader
July 8, 2021
The latest price action came hours after fresh selling pressure thanks in part to an unknown whale trying to short it with over 5,000 BTC. As noted by journalist Colin Wu, July 8 had witnessed short positions build up on major exchange Bitfinex...
A mystery Bitfinex user began entering short positions with a stack of at least 5,219 BTC, worth $173 million at $33,000 levels. “According to datamish data, from 13:00 Beijing time, a account (or institution) has borrow bitcoin to short on Bitfinex,” Wu reported. “As of 15:03, he borrowed a total of 5219 BTC, and this number is still growing. Most short positions are non-hedged.” At the time of writing, total Bitfinex short positions had increased 160% in around two hours. Bitfinex shorts remained roughly balanced with longs, Bybt figures nonetheless showed. The whale shorting is not new. As Cointelegraph reported, June likewise saw fluctuations in trader behavior, with Wu eyeing 15,000 BTC worth of bets flooding in on a fresh price dip on June 25. The next day, BTC/USD saw a fresh retest of $30,000 support.
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| 1 |  |
Binance | 2017 | 4.7 | 341 | 77 686 002 050 | -10.49% | |
|---|---|---|---|---|---|---|---|---|
| 2 |  |
Kraken | 2011 | 4.5 | 62 | 1 164 809 048 | -15.95% | |
| 3 | |
Bitfinex | 2012 | 4.4 | 146 | 1 050 395 824 | -13.46% | |
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KuCoin | 2017 | 4.2 | 282 | 3 025 079 425 | -11.20% | |
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Indodax | 2019 | 3.8 | 157 | 55 021 592 | -14.37% | |
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WazirX | 2018 | 3.4 | 176 | 144 471 045 | 19.30% | |
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Paribu | 2017 | 3.1 | 51 | 360 306 599 | -31.18% | |
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Huobi Global | 2013 | 4.3 | 314 | 16 691 524 159 | -0.42% | |
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OKEx | 2014 | 3.6 | 242 | 15 439 594 327 | -6.86% | |
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