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On-Chain Analyst Reports $3 Million USDC Purchase of 1,461.63 ETH Before 40x BTC Short Position

Trader AguilaTrades closed a significant long position on Bitcoin, leading to a new short position amid market volatility.

BTC
ETH

Summary

Trader AguilaTrades closed a 20x long position on Bitcoin, resulting in a loss exceeding $12 million. Subsequently, he opened a short position valued at $880,000, facing a floating loss of 12.03%. The short was initiated at $104,437.90, with a liquidation price of $2,150,523.11.

Terms & Concepts
  • USDC: A stablecoin pegged to the US dollar, used for digital transactions and trading.
  • ETH: The native cryptocurrency of the Ethereum blockchain, utilized for transactions and smart contracts.
  • 20x Long Position: A leveraged trading strategy where an investor borrows funds to buy an asset, aiming to profit from its price increase.