Bitcoin: Whale Opens $57M Short at $70,893

Bitcoin faces extreme bull-bear splits as one trader loads a 500 BTC 20x short position valued at $35.8 million with entry at $70,892.7 and stacks another $21.64 million in limit sell orders across the $71,800-$72,500 zone.

Price action at $72,028.06 now presses the upper Bollinger Band resistance at $71,036.88 while RSI(14) prints 89.3 overbought and MACD holds its golden cross at 1,717.32. With price testing upper Bollinger resistance while RSI flashes overbought, a healthy retracement to the 50-EMA support at $65,114.72 seems probable before further continuation. Bitcoin whale activity and BTC leverage trading have intensified over the past six months, driving record open interest in crypto short positions.