Bitcoin Whale’s 40x Long on 17 BTC Sinks 65%, Unrealized Loss Reaches $52k
BTC/USDT
$23,298,561,101.23
$66,025.52 / $63,030.00
Change: $2,995.52 (4.75%)
-0.0012%
Shorts pay
COINOTAG News, December 17, citing Hyperinsight monitoring, reported that a prominent trader nicknamed “Whale” Huang Licheng escalated a 40x Bitcoin long, allocating 17 BTC to a single bet. The development illustrates persistent appetite for extreme leverage within the cryptocurrency market.
The entry price was $89,663.90, with a liquidation guard at $35,504.50. The position has swung to a roughly 65% unrealized loss from entry, and the overall long book shows about $52,000 in unrealized losses after earlier gains exceeding $300,000.
The episode underscores risk management imperatives for high-leverage crypto trades, emphasizing disciplined margin controls and alert level monitoring to navigate abrupt BTC price moves.