A whale wallet beginning with 0x90b5 is holding two high-leverage long positions in Bitcoin and Ethereum with a combined notional value of about $26.334 million, according to TradingBeats. The account’s withdrawable balance has dropped to zero, while the two positions together are showing an unrealized loss of roughly $41,800. The Bitcoin leg is a 40x cross-margin long on 246.17 BTC worth about $19.386 million, built at an average entry price of $78,855.4 with a liquidation price of $77,641.8, or about 1.41% away from the current market price. The Ethereum leg is a 25x cross-margin long on 2,808.02 ETH valued at about $6.948 million, with a liquidation price of $2,376.7, around 3.95% away. TradingBeats also said the address received about 400,000 USDC from the same funding address in three transfers over the past 27 hours, in amounts of $50,000, $50,000 and $300,000. After the funds arrived, the whale started BTC and ETH TWAP buys at 11:35 today. The BTC order was initially set to buy 239.45 BTC, but after 214.72 BTC worth about $16.925 million was filled within five minutes, the process stopped with an “insufficient margin” error. The address later bought about 31.45 BTC more after a small price rise freed up some margin.
BlockBeats reported on Sept. 1 that, according to TradingBeats monitoring, a whale address beginning with 0x90b5 is currently holding two high-leverage long positions in BTC and ETH with a combined notional value of about $26.334 million. The account’s withdrawable balance has fallen to zero, and the two positions are showing a combined unrealized loss of about $41,800.
Breakdown of the BTC and ETH longs
The BTC position is a 40x cross-margin long on 246.17 BTC, worth about $19.386 million. Its blended entry price is $78,855.4, and the liquidation price is $77,641.8, leaving it only about 1.41% away from liquidation.
The ETH position is a 25x cross-margin long on 2,808.02 ETH, worth about $6.948 million. Its liquidation price stands at $2,376.7, around 3.95% from the current price.
Three USDC top-ups over roughly 27 hours
Earlier, the address had received about 400,000 USDC in three transfers from the same funding address over roughly 27 hours. The transfers were $50,000, $50,000 and $300,000.
After all funds arrived, the whale started TWAP purchases for both BTC and ETH at 11:35 today.
BTC order was interrupted by an insufficient margin error
The original BTC plan was to buy 239.45 BTC. Within five minutes, 214.72 BTC worth about $16.925 million had been filled before the order stopped with an “insufficient margin” error.
BTC then moved slightly higher, freeing up part of the margin capacity. The address went on to buy about 31.45 BTC more, pushing the final BTC position to 246.17 BTC. The position has since slipped into a loss as BTC pulled back in the short term.
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