Whale Adds $1.6M to BTC Short at 40x Leverage Near $70K, Liquidation Set at $70,637

A whale address (0xcbd...) increased its 40x leveraged BTC short position by approximately 23.3 BTC, worth roughly $1.6 million, as Bitcoin briefly traded above $70,000 in the past half hour, Hyperinsight data cited by ChainCatcher show. The position, opened three hours ago, now totals $3.12 million with an average entry of $69,556 and is currently down 16% on an unrealized basis. The address has placed staggered take-profit orders between $69,200 and $69,450 for partial exits, with liquidation set at $70,637.