Bitcoin experienced its most impressive weekly rally in three years last week, surging from under $65,000 to nearly $80,000 in less than 48 hours. An anonymous trader has shorted BTC and ETH 14 times in five days, losing every single time for a total loss exceeding $4.5 million. Despite these consecutive losses, the trader opened a new 40x leveraged short position on 300 BTC, representing approximately $23 million. Bitcoin has corrected slightly since that three-month high but remains stable around $77,000.
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