On-chain monitoring has highlighted two significant leveraged Bitcoin trades, reflecting sharply divided sentiment in the crypto derivatives market. According to data shared by Lookonchain, trader 0x12C2 has opened a 50x long position on 50 BTC valued at approximately $3.99 million. The position is showing an unrealized profit of $658,000, representing an 825% return and underscoring the high-risk, high-reward strategies becoming more common among traders.
Separately, a newly created wallet has initiated a $23.8 million 30x leveraged short position on Bitcoin. The wallet deposited 4 million USDC before opening the trade, with a liquidation price set at $90,820.04. Reports indicate the wallet used 300 BTC as collateral, a substantial bearish wager that could influence short-term market dynamics if Bitcoin’s price approaches or breaches that liquidation threshold.
While the 50 BTC long position signals aggressive bullish confidence, the much larger short position suggests some whales expect a pullback. Analysts note that leveraged activity of this magnitude can affect liquidity and sentiment, even if it does not directly alter spot market holdings. Traders are closely watching Bitcoin’s price around the $90,820 liquidation level, as forced liquidation or cascading effects could amplify volatility.
