Trader AguilaTrades Opens 20x BTC Short Position After $1.97M Long Profit, Holding 532.6 BTC Worth $56.91M

On-chain data reveals a significant move by trader AguilaTrades, who recently closed a BTC long position, securing profits of $1.97 million. Shortly after, the trader initiated a new 20x leveraged short position on Bitcoin, signaling a strategic shift in market stance. Currently, AguilaTrades holds 532.6 BTC, valued at approximately $56.91 million, with an entry price set at $106,804.4. The position carries a liquidation threshold of $118,060, highlighting the inherent risks of high-leverage trading in volatile crypto markets. This activity underscores the importance of monitoring large traders’ movements to gauge potential market trends and sentiment shifts within the Bitcoin ecosystem.