Trader Opens Significant Short Positions on Major Cryptocurrencies

According to TechFlow, on November 16, a trader has initiated substantial short positions on several major cryptocurrencies, as monitored by the on-chain analysis platform Lookonchain. The total value of these positions amounts to $196 million. The trader has opened a 40x leveraged short position on Bitcoin, holding 1,555.56 BTC, valued at $148.5 million. Additionally, a 20x leveraged short position has been established on XRP, with a holding of 12.34 million XRP, worth $27.4 million. Furthermore, a 10x leveraged short position has been opened on ZEC, with a holding of 31,016 ZEC, valued at $20.4 million.