Anonymous Whale's $74 Million Bet on Bitcoin Goes Sour

An anonymous whale investor took on significant risk by opening a massive $70.08 million position in Bitcoin using 40x cross leverage.

The trade, which involved buying 911.55 BTC, was placed at an entry price of $77,733.2 and could be liquidated if the Bitcoin price drops to $76,308.6, according to a report from Lookonchain on September 11.

At the time of the post, the position's mark price was at $76,947, resulting in an unrealized loss of $774,088.93.