Bitcoin Price Prediction: Whales Close BTC Short Positions, Is The Crypto Crash Over?
Smart money investors are closing their Bitcoin short positions, suggesting that the largest cryptocurrency is on the cusp of a bullish reversal.
On-chain analysis platform Lookonchain reveals that whale “Bitcoin OG” has closed his 2100 BTC short position, worth $227.8 million, netting $6.4 million in profits.
Similarly, smart trader 0xc2a3 has maintained his 100% win rate, closing his latest BTC short position with $826k profit. He has now earned over $12 million in profits over the past 12 days.
Instead, he has now opened a $45 million Bitcoin long position with 19x leverage and already has over $50k in unrealized profits.
The Bitcoin price is back above $109,000 on Thursday after trading as low as…
