Key Takeaways
- A major crypto trader has increased his bearish bets on Bitcoin, Ethereum, and Solana.
- The total value of these shorts has climbed to $169 million.
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A large crypto trader has ramped up his bearish bets on Bitcoin, Ethereum, and Solana, expanding the total value of his leveraged shorts to $169 million, according to data from Onchain Lens, an analytics platform that tracks blockchain trading activity.
The current position includes 36,281 ETH worth over $106 million, 552 BTC worth around $48 million, and 114,677 SOL worth approximately $14 million.
These aggressive short positions come as crypto prices are already under pressure. Bitcoin fell to $87,000 on Monday evening, while Ethereum traded below $3,000 and Solana slipped under $123, according to CoinGecko.
Bitcoin remains the largest decentralized crypto asset by market value, while Ethereum serves as the leading platform for smart contracts and decentralized applications. Solana is known for its high-speed transaction processing.