Two Whales Open Opposing $47.5M Leveraged Bitcoin Positions at $89.6K

Whale address 0x50b3 opened a $27.5 million long position on Bitcoin with 20x leverage at $89,642.7, with liquidation at $83,385, Lookonchain data show on Dec. 6. Whale address 0x9311 simultaneously established a $20 million short position with 40x leverage at $89,502.7, facing liquidation at $95,114. The two addresses have positioned themselves as opposing counterparties in the Bitcoin market.