Bitcoin skilled its most spectacular weekly rally in three years final week when it surged from beneath $65,000 to virtually $80,000 within the span of lower than 48 hours.
Such explosive strikes are usually adopted by a pointy retracement as buyers are inclined to safe income, particularly following weeks and months of sideways exercise with none main positive aspects.
BTC has certainly corrected barely since that three-month excessive, however stays fairly secure at round $77,000. Nonetheless, one bear continues to imagine {that a} extra profound decline is true across the nook.
Lookonchain shared one main bear’s exercise, wherein the nameless dealer opened one more huge quick (no pun supposed). On-chain knowledge confirmed that the most recent place is a 40x quick on 300 BTC, at the moment price over $23 million.
What’s notably fascinating is their persistence. Ever since bitcoin began to rally, and all alts adopted go well with, the dealer has shorted BTC and ETH 14 occasions, however to no avail.
The analysts at Lookonchain famous that the bear’s losses to date exceed $4.50 million after dropping all 14 shorts in simply 5 days.
This bear is again for his fifteenth quick!
Over the previous 5 days, he has shorted $BTC and $ETH 14 occasions, dropping each single time for a complete lack of $4.56M.
Now he’s opened a 40x quick on 300 $BTC ($23.13M).
Can he lastly win one?
Pockets:… pic.twitter.com/0joLI7Sebw
— Lookonchain (@lookonchain) August 24, 2026
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