A whale address has added $47.19 million in margin to its derivatives account to increase a Bitcoin long position, according to Techub News. The address’s total position value is now close to $150 million.
The same address has already realized about $7 million in profit from Bitcoin trades this week, but instead of closing positions to lock in gains, it chose to keep adding exposure. Data tied to the account shows that its leveraged position has continued to grow.
The move has drawn mixed views on risk. While the trade is currently profitable, the address is still expanding leverage rather than reducing exposure. The report did not identify the trader or disclose additional account details, but it said market participants hold differing opinions on how risky the strategy is.
A whale address recently added $47.19 million in margin to a derivatives account to build a larger Bitcoin long position, according to Techub News. The total value of the position is now close to $150 million.
The address has already realized about $7 million in profit from Bitcoin trades this week, but it did not close the position to take profit. Instead, it continued to add to the trade. Related data shows the address has been increasing its leveraged exposure, and the market holds mixed views on the level of risk in that strategy.
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