Wallet 0xec4 Opens 40x Leveraged Bitcoin Short Worth $13.3 Million
According to Hyperinsight, the address’s Bitcoin short activity continued with a new $10.2 million 40x position, a partial close of $1.4 million, and a stop order near its average entry price.
BTC
Summary
Hyperinsight reported that wallet 0xec4 opened another 40x leveraged Bitcoin short position worth $10.2 million at an average price of $67,159. The address partially closed $1.4 million of the position within the past hour and set a stop order at $67,102. The latest trade was described as the wallet’s fifth short attempt in the past 24 hours, adding to a series of high-leverage bearish Bitcoin bets.
Terms & Concepts
- Leveraged trading: Using borrowed capital to increase market exposure, which can magnify both gains and losses.
- Short position: A trade that profits if an asset’s price falls after the position is opened.
- Stop order: An order designed to trigger a trade when price reaches a specified level, often used to limit losses or lock in strategy execution.