Bitcoin continued its climb past $104,000 on Monday, and that rally has tempted some big traders to bet against it. A few high-stakes short positions now sit on the brink of collapse. These trades carry skinny margins for error and show just how risky huge margin bets can be when price momentum stays strong.
Massive Short Position At Risk
According to blockchain tracker Lookonchain, one whale wallet opened a $93 million short with 40× margin. At Bitcoin’s current level near $104,000, just a 1.5% uptick would force a shutdown at around $105,700. That means a small move could wipe it out. Right now, that position is sitting on over $500,000 in paper losses. It’s also earning about $34,000 in funding fees. But those earnings are tiny next to the loss, so they barely ease the pain.
Second Whale Holding At Crossroads
Another account took a $44 million short at $103,494.40, again using 40× cross margin. Now that Bitcoin trades around…
