That address known for making big contrarian bets in cryptocurrencies is holding a massive short position in BTC. At the end of February, when Bitcoin was around $65,000, this whale opened a short position with 40x leverage and then increased the bet. In total, the short position reached $34.3 million with an average entry price of $65,300. The problem is that since then, BTC has risen significantly, leaving this position with an unrealized loss of about $230,000, and the liquidation level is at $84,200. It’s interesting because this same address is also the largest short seller of DASH on the network, although it has recently reduced this position. Still, the DASH position continues to generate a substantial unrealized profit. Historically, this whale tends to make these 40x plays during major market movements, trying to capitalize on corrections, but this time it seems to be going against the trend. The question remains whether it will hold the bet or exit this short position at a loss.