BTC short whale logs 16th straight loss, down $5.25M in a month

A whale that opened a $38.07 million BTC short position with 20x leverage cut the trade after about 60 hours, locking in a $288,000 loss, according to on-chain analyst ai_9684xtpa. The whale has posted 16 consecutive losses since switching to short positions on Aug. 19, with cumulative losses over the past month estimated at about $5.25 million.