Ethereum Whale Secures $1.27M Profit Before Opening Massive 40x Leveraged Bitcoin Short Position

According to recent data from Lookonchain monitoring, the Ethereum address 0x916E has successfully liquidated its long position, securing a profit of approximately $1.27 million. Following this, the same entity initiated a highly leveraged short position on Bitcoin, utilizing 40x leverage with a substantial size of 1,337 BTC, valued at around $135.77 million. The liquidation threshold for this position is set at $104,395.91. This strategic move highlights significant market activity and risk management within the crypto derivatives space, reflecting sophisticated trading tactics amid volatile conditions.