Crypto
Bitcoin Whale Opens $49.33M Leveraged Short After Ethereum Windfall
A Bitcoin whale has made a significant change in their trading strategy after generating over $10 million from an Ethereum long position.
The trader, who used Lookonchain data to track wallet movements, opened a heavily leveraged short on Bitcoin with a position value of approximately $49.33 million.
The position covers 640 BTC and is a 4x leveraged short, meaning that relatively small movements in Bitcoin can produce substantial gains or losses.