A whale address was stopped out on a 20x leveraged Bitcoin short worth $38.07 million, according to monitoring data cited by ChainCatcher from Ai Yi. The position was held for about 60 hours before the trader exited with a loss of $288,000. The update adds to a longer losing streak tied to the same address.
Since switching to a bearish strategy on Aug. 19, the wallet has recorded its 16th consecutive losing trade, the report said. Over roughly the past month, cumulative losses for the address have reached about $5.25 million. No additional details on the trader’s identity or trading venue were disclosed in the brief. The report focused on the size of the BTC short, the leverage used, the duration of the position, and the running loss count since the strategy shift.
ChainCatcher reported, citing monitoring by Ai Yi, that a whale address was stopped out on a 20x leveraged BTC short valued at $38.07 million.
The position was held for about 60 hours, and the trader exited with a loss of $288,000.
Since shifting to a bearish strategy on Aug. 19, the address has now logged its 16th straight losing trade. Its cumulative loss over the past month has reached about $5.25 million.
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