Bitcoin just posted its best weekly rally in three years, and at least one trader isn't buying it. An anonymous position holder opened a 40x leveraged short on 300 BTC, worth more than $23 million, as the rally showed signs of stalling. It's the fifteenth short they've opened in five days — the fourteen before it all lost money.
The losing streak
Lookonchain, an on-chain analytics platform, has been tracking this wallet. The trader shorted Bitcoin and Ether fourteen times since the start of the week, and every single position was closed at a loss. The total damage: $4.56 million. That's not a rounding error, and it's not the kind of record you want to be chasing.
Now they're back for a fifteenth attempt, again with heavy leverage. Same wallet, same pattern, same bet that the rally is about to collapse.
What the data shows
The trades surfaced through Lookonchain, which monitors wallet activity and posts notable moves on its public feed. The firm didn't comment on who the trader is or whether it's one person or a group. The on-chain trail points to the same address across all 15 short positions, which makes it look like a single actor.
A rally that keeps proving them wrong
Bitcoin's move this week was the steepest in three years. The token surged sharply in under 48 hours, then pulled back from its high but didn't give up much. The trader has been shorting into that momentum, and the market has handed them a loss every time. The timing isn't great, but the trader isn't backing down.
What happens now
The 15th short is now open, and the clock is ticking. If the rally resumes, the losses pile up again. If it finally breaks, this trader might finally catch a break. For now, the pattern is clear: 14 and 0, and the market still has the upper hand.
