PANews, August 24: According to Lookonchain monitoring, an address has shorted Bitcoin and Ethereum 14 times over the past five days, incurring a loss each time, for a total loss of $4.56 million. The address has now initiated its 15th short position, opening a 300-BTC short with 40x leverage, valued at $23.13 million.
Address suffers a $4.56M loss from 14 consecutive BTC/ETH short positions, opens a 40x $23.13M BTC short
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Summary
A crypto address has incurred $4.56 million in losses from 14 short positions on BTC and ETH over five days. The same address now holds a 40x leveraged short position of 300 BTC, valued at $23.13 million. BTC prices remain under pressure as leveraged positions continue to grow. This BTC market update underscores the ongoing volatility and risks associated with leveraged trading.
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