ChainCatcher report, according to Lookonchain monitoring, the trader who opened a short position worth over $100 million in ETH yesterday has closed the position, incurring a loss of $260,000, and subsequently switched to a long position on BTC, opening a 175.04 BTC (approximately $13.43 million) long position with 20x leverage.
Trader closes $100M ETH short with $260K loss, shifts to BTC long.
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Summary
A trader closed a $100 million ETH short position, incurring a $260,000 loss, and shifted to a BTC long position. The new position consists of 175.04 BTC ($13.43 million) at 20x leverage, reflecting a reassessed risk-to-reward ratio. A stop-loss strategy likely prompted the exit from the ETH trade. Lookonchain tracked this activity.
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