Odaily Planet Daily reports, according to Lookonchain monitoring, an address closed a 1,000 BTC and 10,000 ETH long position after holding for four months, realizing over $20 million in profits, and subsequently opened a 20x short position of 13,000 ETH, worth $29 million.
Address profits exceed $20M after 4 months, opens $29M ETH 20x short position
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Summary
A crypto address, employing disciplined position trading, generated over $20 million in profits after holding 1,000 BTC and 10,000 ETH for four months. The address then made a decisive shift, initiating a 20x short position on 13,000 ETH, worth $29 million. Position sizing was critical in both the long and short trades, with clearly defined risk and reward parameters.
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