A Bitcoin whale address tracked by TradingBeats has closed a 559.36 BTC short position at a loss of about $810,100, then flipped long roughly 10 minutes later, according to a BlockBeats report published on Aug. 26. The address, 0x6046, had previously been within less than 2% of liquidation on the short side.
After closing the short, the wallet bought 428.287 BTC to open a long position worth about $34.59 million at an average entry price of $80,761. At the time of publication, the long was showing an unrealized loss of about $677,100.
Including the realized loss from closing the short, the address had accumulated about $1.487 million in combined realized and unrealized losses across the two directional switches. That figure was reported to be higher than the account’s current equity of about $1.277 million.
BTC was last quoted at $79,181 in the report. The long position’s liquidation price was around $77,163, leaving it about 2.5% away from liquidation again. TradingBeats data cited by BlockBeats also showed no visible BTC stop-loss or position-reduction orders for the address.
A whale wallet that had been close to liquidation on a Bitcoin short has now flipped long and is again sitting near its liquidation level, according to TradingBeats data cited by BlockBeats on Aug. 26.
The address, 0x6046, closed a 559.36 BTC short position at a loss of about $810,100. Roughly 10 minutes after covering the short, the wallet reversed direction and bought 428.287 BTC to open a long position worth about $34.59 million, with an average entry price of $80,761.
That long position was later showing an unrealized loss of about $677,100. Combined with the earlier loss from closing the short, the address had total realized and unrealized losses of about $1.487 million across the two directional changes. BlockBeats said that amount exceeded the account’s current equity of about $1.277 million.
As of publication, BTC was trading at $79,181. The long position’s liquidation price was around $77,163, putting it only about 2.5% away from liquidation again. The address also had no visible BTC stop-loss or position-reduction orders at the time cited in the report.
BlockBeats also referenced an earlier report saying that a further 2% rise in BTC would have forced the liquidation of a whale that opened a $45.22 million short position yesterday.
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