Great Whale’s Trouble: He Opened a Long Position in Bitcoin, Lost $6.7 Million, Paid $667,000 in Fees

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Bitcoinsistemi2024/12/31 02:55

By:Mete Demiralp

According to cryptocurrency market onchain data, a cryptocurrency whale appears to have emerged with a loss from a long trading battle.

According to data provided by Lookonchain, a whale opened a long position on Bitcoin (BTC) via the wallet Hyberliquid. With the decline in the market, the whale's total losses exceeded $6.75 million. In addition, he paid a total of $632,000 in funding fees for his position, which has been open for 16 days.

Bitcoin, the world's largest cryptocurrency, has lost approximately 2% of its value in the last 24 hours and is trading at around $91,800 at the time of writing.

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When the data is examined, it is seen that the price level at which this crypto whale opened its long position was $ 101,662. In addition, it was observed that the whale created its position with an extremely risky leverage level of 50x. The whale has so far avoided liquidation by adding funds.

According to the data, the whale wallet has now closed its position to avoid further losses.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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