BTC Short Position Faces $746,700 Loss After October Flash Crash
Bitcoin’s rally past $112,000 boosts the '100% win rate whale’s' BTC and ETH long positions to $4.75M in unrealized gains, highlighting intensified bullish momentum in large-scale crypto strategies.
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ETH
Fact Check
Evidence from ODaily News directly states that the prominent BTC short position taken before the flash crash incurred a floating loss of $746,700. The existence of this large short position and the October flash crash event are well-corroborated by multiple other sources, including Galaxy Research and Yahoo Finance. The loss occurred after the crash, likely due to a market rebound.
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Summary
Bitcoin’s surge above $112,000 increased the '100% win rate whale’s' unrealized profits from BTC and ETH long positions to $4.75 million, according to on-chain analyst Ai姨. The whale holds $165 million in Bitcoin longs at $110,680 and $131 million in Ethereum longs at $3,897, totaling $297 million in long exposure. This marks a further rise from prior $3 million gains, reflecting a sustained bullish pivot from earlier substantial short positions incurred during October’s volatility.
Terms & Concepts
- Whale: A term used in the crypto market referring to an individual or entity holding large amounts of cryptocurrency that can influence market movements.
- Long Position: An investment strategy where an investor buys and holds an asset, expecting its value to increase over time.