ChainCatcher reported, citing on-chain analyst @ai_9684xtpa, that a wallet opened a 40x leveraged long position on 603.71 BTC at 10:30 p.m. last night. The position was valued at $38.67 million, with an entry price of $64,469, and was showing an unrealized loss of $259,000 at the time of the update. The same address also placed $31.441 million in limit long orders between $63,500 and $63,674. If those orders are fully filled, the wallet’s total position would expand to $70.111 million. According to the monitoring data, the address has mostly used short-term trading strategies in the past, with positions typically held for only a few hours. The current long is described as the sixth-largest position opened by the address this year, and it would become the largest of the year if all pending orders are executed.
According to ChainCatcher, citing on-chain analyst @ai_9684xtpa, a wallet opened a 40x leveraged long position on 603.71 BTC at 10:30 p.m. last night.
The position was valued at $38.67 million, with an entry price of $64,469, and was showing an unrealized loss of $259,000.
The address also placed $31.441 million in limit long orders in the $63,500 to $63,674 range. If all of them are filled, the total position would increase to $70.111 million.
The analyst said the wallet has mainly followed short-term trading strategies in the past, with most positions lasting only a few hours. This long is the address’s sixth-largest this year, and it would become the biggest of the year if the full limit order is executed.
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