BTC Trader Suffers $10M Loss on Short Position After Price Surge

A trader known as Jason60704294 has taken a significant loss on their Bitcoin short position. The losses amount to $10.158 million, which was incurred after they trimmed their BTC short and moved their stop-loss to $80,500.

The position of 1,030.724 BTC was opened at $76,065.2 and now shows an additional float loss of $1.806 million. The ETH short, consisting of 4,756.739 coins entered at $2361.58, carries a $160k unrealized loss.

The trader's recent trades have delivered a net profit of $3.559 million excluding floats, with the long side alone booking $20 million before the two short attempts cost $1.644 million combined.