Huo Xing Finance reports that, on August 24, according to TradingBeats (formerly Hyperinsight), a certain address has shorted Bitcoin and Ethereum 14 times over the past five days, all resulting in losses, with a cumulative loss of $4.56 million—reminiscent of the infamous "Maji Counterpart" known for repeatedly going long and getting liquidated. The address has now initiated its 15th short position, opening a 300-BTC short with 40x leverage, valued at $23.13 million.
Whale Suffers 14 Consecutive Bitcoin Short Losses, Opens 40x BTC Short Worth $23.13M
MarsBitShare
Summary
A whale has suffered 14 consecutive Bitcoin short losses, losing $4.56 million over five days. On August 24, the whale opened a 40x BTC short position of 300 Bitcoin, valued at $23.13 million. Bitcoin’s price remains under pressure as leveraged traders face increasing risks. The Bitcoin chart shows continued volatility, with large positions being tested amid shifting market sentiment.
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