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Address holds $24 million ETH and BTC 20x leveraged bets

Address holds $24 million ETH and BTC 20x leveraged bets

The wallet carries a 12,832 ETH long and a 366 BTC short, with Ethereum’s stronger rebound undermining the hedge and leaving a combined floating loss of about $3.856 million.

BTC
ETH

Fact Check
Multiple independent sources plus the originating author (@ai_9684xtpa) confirm the position sizes, leverage, notional values, and combined ~$3.856M floating loss described in the claim.
Summary

A single address is carrying two roughly $24 million high-leverage crypto derivatives positions: a 12,832 ETH 20x leveraged long and a 366 BTC 20x leveraged short. As ETH rebounded more strongly than BTC, the apparent short ETH/BTC hedge lost effectiveness, leaving the account with an overall floating loss of about $3.856 million. The positioning, cited by Ai Yi via PANews, reflects an aggressive relative-value trade in which the wallet appears to be balancing opposing Bitcoin and Ethereum exposures, with 20x leverage magnifying the impact of moves between the two assets.

Terms & Concepts
  • 20x leveraged long: A bullish derivatives position using 20 times the trader’s margin.
  • 20x leveraged short: A bearish derivatives position using 20 times the trader’s margin.
  • floating loss: An unrealized loss on an open position based on current market prices.