Crypto
Ethereum Whale Takes $114K Hit on BTC Short Position
A prominent Ethereum whale has closed a significant Bitcoin short position, resulting in an $114,000 loss.
The trader had taken on a 4x BTC short worth $49.59 million, but was forced to close it after under 7 hours due to market fluctuations.
This marks the third attempt by the whale to take on a Bitcoin short position, with cumulative losses now totaling $547,000.
The trader's 20,000 ETH long position remains intact, however, and is currently showing a floating profit of $10.71 million.