Whale’s $2.46 Million ETH Short Loss Leads to $17.6 Million BTC Long Position on 40x Leverage

On May 19th, COINOTAG reported a significant trading event involving a major digital asset investor. According to data from EmberCN, a whale recently executed a short sale of Ethereum (ETH) leveraging 25x, amounting to an impressive $103 million at a price point of $2,514. As the price of ETH began to climb, the investor continually adjusted their stop-loss orders but ultimately faced liquidation of their position, incurring a loss of approximately $2.46 million.

Following the closure of the ETH position, the whale redirected their strategy towards Bitcoin (BTC). They established a 40x leveraged long position, acquiring 166 BTC valued at $106,580, totaling around $17.6 million. This new position is currently experiencing unrealized losses, with a liquidation threshold set at $105,510. Such maneuvers underscore the volatility and risks inherent in the cryptocurrency market, especially under high-leverage conditions.