Crypto Whale Opens 28.47 BTCUSDT Perpetual Short With 5x Leverage
According to Lookonchain, whale 0x049b later opened much larger 20x leveraged short positions in Bitcoin and Ethereum worth about $58.75 million, highlighting elevated directional risk in crypto derivatives markets.
BTC
ETH
Fact Check
The claim is supported by multiple independent news aggregators (KuCoin, Svmuu) and social media reports that all cite the same specific details: the trader's name ('Set 10 Big Goals First'), the exact position size (28.47 BTC), the leverage (5x), and the platform (X). The primary source was traced to an X post by @jason60704294.
- Reference: 1
Summary
According to Lookonchain, whale 0x049b opened 20x leveraged short positions on 428.73 BTC and 13,852 ETH, with a combined notional value of about $58.75 million. As of March 19, the positions were showing more than $1.15 million in unrealized profit. Lookonchain listed liquidation prices at $72,409.98 for Bitcoin and $2,226.62 for Ethereum, indicating the trade was highly leveraged and exposed to sharp market moves.
Terms & Concepts
- Short positions: Trades designed to profit when the price of an asset declines.
- Leverage: The use of borrowed exposure to increase position size, which amplifies both gains and losses.
- Liquidation prices: Price levels at which an exchange may forcibly close a leveraged position because collateral is no longer sufficient.