New address opens a $12.04M BTC long position with 40x leverage

ME News reports that on July 22 (UTC+8), according to Hyperinsight monitoring, a new address (0x4ba6) received approximately $464,000 in funds last night from three separate addresses. After UBTC was transferred in, it was immediately swapped for USDC, and the funds were swiftly moved into a BTC contract. The address first opened a short position of 68.1 BTC, then repeatedly switched between long and short positions to test the market. About half an hour ago, it executed two orders to buy 181.3 BTC, completing its current position build-out at an average execution price of $66,411.60, totaling approximately $12.039 million. As of publication, the address holds a long position of 181.3 BTC with 40x leverage, valued at approximately $12.026 million, with a liquidation price of $64,580.70. It is currently experiencing a minor unrealized loss of about $13,000, representing a return of -4.3%. Immediately after completing the position, the address placed a take-profit trigger order covering the entire position, set to trigger at $67,300.00. The address has been active for less than one day, and all historical trades have been concentrated on BTC, with a cumulative trading volume of $67.28 million. The account’s overall profit and loss is currently neutral. (Source: BlockBeats)