Bitcoin whale’s 40x long is stopped out, trader says he may re-enter

A Bitcoin whale’s 603.71 BTC long position, valued at about $38.55 million to $38.67 million, was stopped out roughly 18 hours after being opened, according to BlockBeats citing on-chain analyst Ai Yi. The 40x leveraged trade was opened at $64,469 and closed at $63,859, locking in a $368,000 loss after Bitcoin fell about 1%. Earlier reporting linked the address to trader “Set 10 Big Goals” or “Set 10 Big Goals First” and said the position had been showing a $259,000 unrealized loss as Bitcoin slipped below $64,000 on July 24. The address had also placed $31.441 million in limit long orders between $63,500 and $63,674, which would have raised total exposure to $70.111 million if filled, but those orders were later canceled. In a subsequent comment reported by BlockBeats, the trader said a previous long entered near $64,980 had been stopped out in the $64,000-$64,300 range to avoid a deeper move toward $63,000 and that he may rebuild longs on Monday and Tuesday if $64,000 holds, using a new stop between $63,500 and $63,000.