A cryptocurrency whale has initiated a significant short position on Bitcoin, valued at $11.67 million, using 40x leverage. The position was opened at an average price of $77,749, with a liquidation threshold set at $81,286. The trader aims to profit by closing the position if Bitcoin's price falls to the $70,000 mark. This move was detected by Hyperinsight monitoring, highlighting the whale's strategic bet on a potential Bitcoin price decline.