Whale Holding 970 BTC Loses Over $6 Million After Opening 40x Leveraged Long Position on Bitcoin

According to COINOTAG News on June 25th, data from LookIntoBitcoin reveals a significant market move by a major whale holding the address 0x4227. This investor liquidated their entire BTC spot holdings and simultaneously initiated a highly leveraged long position at 40x on Bitcoin. The whale’s portfolio comprised approximately 970 BTC, valued at around $103 million at the time of the transaction. Despite this aggressive strategy, the position has incurred losses exceeding $6 million, underscoring the inherent risks associated with high-leverage trading in volatile crypto markets. This development highlights the ongoing market dynamics and the critical importance of risk management for institutional and retail investors alike.