A major trader has expanded short positions totaling $250 million in Bitcoin, Ethereum, and Solana as of December 29, 2024. The positions include $119 million in Bitcoin, $106 million in Ethereum, and $43 million in Solana, executed through perpetual futures. This move comes amid weak U.S. spot demand, as indicated by the negative Coinbase Bitcoin Premium Index (-0.086), suggesting limited buying interest. Despite the increased short activity, Bitcoin's price has remained stable, with support and resistance levels preventing significant forced liquidations. The market's resilience is evident as prices drift lower without sharp declines, reflecting the current cautious sentiment among investors.