Is Bitcoin Preparing For Another Dip, This Time To $70,000? This Whale Is Heavily Short

This article discusses a Bitcoin whale who has been actively shorting the market, with profits of over $7 million at spot rates. The whale has been stacking short positions and is betting on prices dropping even further, possibly to $70,000. On the other hand, some traders are buying the dip and are optimistic about a price recovery. Key players are placing long positions and buy limit orders, indicating confidence in a potential bounce back.

The article also mentions that Bitcoin remains under pressure below $90,000 and highlights the importance of key takeaways such as the whale actively shorting, trader confidence despite market weakness, and signs of stabilization in long-term holder selling activity.

Overall, the market sentiment seems mixed with bearish signals from the whale’s activities but also bullish indicators from other traders. The direction of Bitcoin’s price will likely depend on how these conflicting forces play out in the coming days.