Huang Takes $12M Leveraged Long Bet on Bitcoin with 40x Leverage

Taiwanese singer and entrepreneur Jeffrey Huang has taken a bold bet on Bitcoin, opening a massive $12.1 million leveraged long position, according to data from Hyperbot. The 40x leveraged trade involves 155 BTC, valued at approximately $12.08 million, with an average entry price of $77,959.5 and a liquidation price of $50,000.

Huang's trade is not his first foray into the crypto space. He has been involved in various blockchain and NFT projects, and his public trades often attract attention from retail investors. However, his latest moves come at a time when Bitcoin and Ethereum are experiencing notable price swings, and the broader market remains cautious about macroeconomic factors such as interest rates and regulatory developments.

With a 40x leverage, Huang's position is highly sensitive to short-term volatility. A 2.5% move against the position could trigger liquidation. In the case of the BTC trade, the liquidation price is set at $50,000, which is about 36% below the entry price.