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Crypto Whale Opens $35.35 Million Bitcoin Long With 20x Leverage

According to Onchain Lens (blockchain tracking service), wallet "0x568" opened a highly leveraged Bitcoin position totaling 443.42 BTC after previously losing $150,000 on Ethereum trades.

BTC
ETH

Summary

Blockchain tracker Onchain Lens reported that whale wallet "0x568" opened a 20x leveraged long position in Bitcoin valued at $35.35 million, equal to 443.42 BTC. The same wallet had previously recorded a $150,000 loss while trading Ethereum. A leveraged long position increases exposure to Bitcoin’s upside but also sharply raises liquidation risk if the market moves lower, making the trade notable for its size and aggressive use of borrowed capital.

Terms & Concepts
  • Leveraged long position: A trade that uses borrowed funds to increase exposure to a rising asset price, magnifying both potential gains and losses.
  • 20x leverage: A leverage ratio that allows a trader to control a position 20 times larger than their posted capital, increasing liquidation risk.
  • Whale: A market participant that controls a large amount of cryptocurrency and can draw attention because of the size of its trades.