Bearish Bet Placed on BTC, ETH, SOL Amid Weak Crypto Market

A large bearish bet on Bitcoin, Ethereum, and Solana has been placed through a newly created wallet. The wallet deposited $6.68 million in USDC to open $48 million worth of 20x leveraged short positions across the three major cryptocurrencies.

The move indicates a strong expectation of price declines in these assets. Bitcoin is currently trading near $63,888 with potential support at $63,641 and resistance around $64,000. Ethereum is hovering around $1,732 with support near $1,619 and resistance at $1,811.

Solana trades near $74 with key support at $72.04. These leveraged positions carry a high risk of significant losses or liquidations due to small price fluctuations.