Wallet 0xff84 Scales Back 1,793 BTC Short Position as Bitcoin Rises

As Bitcoin rises, wallet 0xff84 has closed a portion of its 1,793 BTC short position that was nearing liquidation; the new liquidation level for the remaining 1,543 BTC is recorded at $64,225.35.

Crypto data analysis platform Lookonchain reported that the short position at address 0xff84 approached a critical threshold alongside the rise in Bitcoin’s price. The position, valued at approximately $114.4 million, was partially reduced as the price neared the liquidation level. Consequently, the wallet owner avoided liquidation, which would have meant the mandatory closure of the position.

Transaction records shared by Lookonchain show consecutive “Close Short” operations on the BTC-USD pair. The records display two separate 50 BTC closing transactions alongside smaller-sized trades. This movement indicates that the short position was reduced in segments rather than all at once.

New liquidation level of $64,225 for wallet 0xff84

While the remaining amount in the position panel is shown as 1.54K BTC, Lookonchain reported this figure as 1,543 BTC and approximately $98.97 million. The new liquidation price stands at $64,225.35. The panel shows the trade is 40x leveraged with cross-margin. This level stands out as a critical threshold for the short position and a potential resistance point for the market.

The total short position of four traders stands at 5,375 BTC or approximately $343 million. Other liquidation levels for these positions are listed as $64,101.12, $64,576.56, $66,006.80, and $66,030.04. The data indicates these levels are the tracked thresholds for the short positions; however, no actual liquidation or market-wide short squeeze has been reported.