Bitcoin Whale Closes Long Positions with $39.74 Million Weekly Loss
A major Bitcoin whale has opened a 20x leveraged long worth $28.7M after prior multimillion-dollar losses, signaling aggressive risk-taking in volatile market conditions.
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Summary
Onchain data revealed a Bitcoin whale opened a new 20x leveraged long position valued at $28.7 million within the past two hours, depositing 300 BTC on an exchange with a liquidation price of $60,424.6. This trader had previously lost $6.35 million trading on Hyperliquid. The development follows earlier reports of large realized losses among whales, including a Bitcoin whale closing all long positions for the week at a $39.74 million loss and an Ethereum whale incurring a $2.76 million loss on leveraged trades.
Terms & Concepts
- Whale: A term for individuals or entities that hold large amounts of cryptocurrency, capable of influencing market prices.
- Long Position: A trading strategy where an investor buys an asset expecting its value to increase.
- Leverage: Using borrowed funds to increase the size of a position, potentially amplifying gains or losses.