Key takeaways
- A major crypto trader has increased his bearish bets on Bitcoin, Ethereum and Solana.
- The total value of these short films rose to $169 million.
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A large crypto trader has stepped up his bearish bets on Bitcoin, Ethereum and Solana, increasing 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 around $14 million.
These aggressive short positions come as cryptocurrency prices are already under pressure. Bitcoin fell to $87,000 late Monday, while Ethereum traded below $3,000 and Solana fell below $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.
