According to data from Ashes Monitoring, a significant market participant executed a substantial long position on Bitcoin (BTC) using 10 million USDC via Hyperliquid. This strategic move involved leveraging 2276 BTC at 20x, resulting in a position valued at approximately $250 million. The initial entry price was recorded at $107,637, with a liquidation threshold set at $105,110. Currently, the trader is realizing a profit of around $5.68 million, underscoring the impact of leveraged positions in the crypto derivatives market. Such high-leverage trades highlight the volatility and risk management dynamics prevalent in institutional crypto trading, emphasizing the importance of monitoring whale activities for market sentiment analysis.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024