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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.
Many gamblers are shorting $BTC with high leverage!
0x51d9 opened a $93M short position on $BTC with 40x leverage, with a liquidation price of $105,690.
0x5D2F opened a $44M short position on $BTC with 40x leverage, with a liquidation price of $112,660.https://t.co/WcW1u4FdWz… pic.twitter.com/pAf1LEMnZp
— Lookonchain (@lookonchain) May 12, 2025
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 $104,720, the trade is down roughly $515,348.53. Its liquidation threshold is much further out, at about $112,660. That gives a buffer of close to $9,000 before it’s wiped out.
So far, this trader has pocketed $51,711.71 in positive funding. Those credits show that traders are still betting on higher prices overall. Yet if Bitcoin’s climb stays on track, that buffer could evaporate fast.
Failed Bet Already Closed
A third whale got burned even sooner. This trader sold short $69.7 million worth of Bitcoin at $95,969, using 40× margin. Their cut-off price was $103,470. Bitcoin crossed that line days ago, trading above $104,000 in recent sessions. Based on reports, that position has almost certainly been liquidated already. It serves as proof of just how quickly high-risk shorts can backfire when prices shoot up.
Liquidations Highlight Market Pressure
Over the past 12 hours, Bitcoin derivatives saw $66.66 million in liquidations, with $51.25 million coming from shorts. In the full 24-hour stretch, a total of $82.58 million was wiped out, and $60.97 million of that was on the short side. Longs only accounted for $21 million in closures. These figures underline how much buying power has been forced back into the market, fueling further gains.
This frenzy shows that betting big against Bitcoin’s rally can end badly and fast. Small funding payments won’t make up for big losses if price keeps rising. Traders taking huge short positions now face steep odds of getting squeezed out. As Bitcoin sits above $104,000, any further gains could push more shorts to the exit, driving fresh volatility in the days ahead.
Featured image from Pexels, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
