The $100M+ BTC short is getting cut down again. The trader behind the massive 1,600 $BTC short just closed another 500 BTC, worth around $32.58M, in an attempt to stay clear of liquidation.
That brings the total realized loss on the trade to more than $1.32M.
Current position👇
Short: 900 BTC (≈ $58.6M), Total loss: $1.32M+, New liquidation price: $65,360.10 .
The trader has now reduced the original position from 1,600 #BTC to just 900 BTC, but is still holding a nearly $59M bearish bet on BTC.
It looks like the strategy has shifted from trying to maximize the short to simply surviving the trade.
Address: 0xff84dd888de8ac2ed9a44860dc44e57025d68f1d
That brings the total realized loss on the trade to more than $1.32M.
Current position👇
Short: 900 BTC (≈ $58.6M), Total loss: $1.32M+, New liquidation price: $65,360.10 .
The trader has now reduced the original position from 1,600 #BTC to just 900 BTC, but is still holding a nearly $59M bearish bet on BTC.
It looks like the strategy has shifted from trying to maximize the short to simply surviving the trade.
Address: 0xff84dd888de8ac2ed9a44860dc44e57025d68f1d