A crypto -whale with a history of profitable transactions has succeeded in coming to the top after opening a huge short position on Bitcoin (BTC).
Blockchain analytics firm lookonchain out A trader with a deep bag built a short position of 3,940 BTC worth $ 332 million by raising leverage to 40x.
Short-Selling is to borrow an active from an exchange or broker to sell it in the hope of buying back lower to sag the difference.
According to Lookonchain, the whale initially witnessed non -realized losses for more than $ 1 million.
“Entrance fee: $ 84,040.8
Liquidation price: $ 85,300. “
In addition to turbulent price promotion, the analysis company out The whale had to ward off a team of traders who tried to stimulate the price of Bitcoin in an attempt to liquidate the enormous short position of the deep pocket investor.
‘[A pseudonymous trader] A team was public to hunt this whale that BTC has short -connected with 40x leverage.
Only an hour later the team was in action and BTC rode above $ 84,690 in a short period. “
Lookonchain notes that the whale has escaped through the liquidation add $ 5 million at the Stablecoin USDC on their account.
“The whale continued to increase its position in order to be BTC too short.
The whale currently benefits from closing positions via twap (time -weighted average price).
His current position is 5,406 BTC ($ 449 million), with a non -realized profit of $ 4.4 million. “
When dealing with leverage, users can add more money to their accounts and set up more collateral to further relocate their liquidation price from their price input. While the move reduces the chance of being liquidated, traders run the risk of losing more money if it is actively moving against their position.
Lookonchain has monitored the whale in question, remark That the trader had a hit rate of 100% in one month to make $ 16.39 million profit.
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Generated image: midjourney