Bitcoin skilled its most spectacular weekly rally in three years final week when it surged from underneath $65,000 to nearly $80,000 within the span of lower than 48 hours.
Such explosive strikes are usually adopted by a pointy retracement as traders are inclined to safe income, particularly following weeks and months of sideways exercise with none main good points.
BTC has certainly corrected barely since that three-month excessive, however stays somewhat secure at round $77,000. Nevertheless, one bear continues to imagine {that a} extra profound decline is true across the nook.
Lookonchain shared one main bear’s exercise, during which the nameless dealer opened yet one more huge quick (no pun supposed). On-chain information confirmed that the newest place is a 40x quick on 300 BTC, presently value over $23 million.
What’s significantly 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 instances, however to no avail.
The analysts at Lookonchain famous that the bear’s losses up to now exceed $4.50 million after shedding 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 instances, shedding 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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