According to on-chain analytics platform Lookonchain (@lookonchain), Bitcoin’s price has returned to $71,000. A trader with the address 0x004E opened a 30x long position of 600 BTC (approximately $42.7 million) over the past 20 minutes at an entry price of $70,235.80. The trader currently holds approximately $570,000 in unrealized profits, with a liquidation price of $66,942.69.
Trader 0x004E Opens a $42.7M BTC Long Position as Bitcoin Reaches $71,000
TechFlowShare
Summary
A trader using the address 0x004E opened a 30x long position of 600 BTC ($42.7M) in position trading as Bitcoin reached $71,000. The position was initiated at $70,235.80 with $570,000 in unrealized gains, and the liquidation price is set at $66,942.69. The position size indicates a high-risk, high-reward strategy amid sharp price movements.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.