Whale Increases BTC Short Position Amid Price Surge

On March 12, a significant Bitcoin whale activity was observed. According to BlockBeats On-chain Detection, during a brief period when Bitcoin's price surged over $70,000, a whale with an address starting with 0xcbd continued to average down its 40x leveraged short position on Bitcoin. The whale added approximately 23.3 BTC to its holdings, bringing the total position size to $3.12 million. The average opening price of the position has risen to $69,556, with a current unrealized loss of 16%. The position was opened three hours ago. Simultaneously, the whale has placed take-profit orders in the $69,200 to $69,450 range, planning to gradually close the position within this price band. The liquidation price for this position is currently set at $70,637.