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Artist 'Maji' Suffers 65% Loss on 40x Bitcoin Long Position

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BTC
$88,218.70-0.08%
Artist 'Maji' (Huang Licheng) opened a 40x long position on 17 BTC at $89,663.9, according to ChainThink. The position trading has since dropped 65%, with a liquidation price at $35,504.5. The account’s total long positions are down $52,000, after earlier floating profits topped $300,000. Position sizing played a key role in the exposure, as the large leverage amplified both gains and losses.
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