Bitcoin whale exits $93.8M short as BTC slides to February lows

Bitcoin's selloff accelerated after it lost the $70,000 support level, pushing BTC to a four-month low of $61,309. At the time of writing, the token had bounced modestly to $63,306, but remained down 4.7% on the day. As prices revisited February levels, derivatives activity picked up and large traders adjusted positioning. Onchain Lens reported that the whale wallet "pensionusdt.eth" fully closed a 1,400 BTC short valued at $93.8 million. The trader, described as being on a 21-trade winning streak, booked about $3.56 million in profit on the exit and then rotated into ETH. Short-side strength has been reflected broadly in positioning. CoinGlass data showed Bitcoin's Long/Short Ratio falling to 0.94, indicating a tilt toward bearish bets. Longs have taken the brunt of the move. Onchain Lens noted that Garret Jin's 5x BTC long is carrying an unrealized loss of more than $17 million. The trader has kept the position open and has spent $153,000 in funding costs to avoid liquidation. Liquidations also surged over the past 24 hours. CoinGlass reported total Bitcoin liquidations of $752 million, including $634.6 million in long liquidations. Technical momentum indicators point to sustained downside pressure. TradingView data showed the negative momentum component of the ADX with SMA rising to 47, while ADX climbed to 38 and the positive index dropped to 6, a configuration that often signals trend continuation. If current conditions persist, Bitcoin could break below $60,000 and slide toward $58,600. To stabilize, BTC would need to reclaim $70,000 and secure a close above $74,000. In summary, a Bitcoin whale closed a $93.8 million short for roughly $3.5 million in profit as BTC fell back to February levels. Garret Jin's leveraged long remains about $17 million underwater, while long liquidations reached $634.6 million.