📉 The Big Short Silver whale continues to hold a million-dollar loss! Although it has endured losses, it stubbornly fights against the trend?
While Silver$XAG is continuously reaching new highs, a stubborn whale is making a massive short bet with extremely high leverage, and now the current price to pay is very steep.
🔷 Unable to withstand the immense pressure as the price of Silver surged to the $118 range, this whale had to partially cut losses to reduce risk:
- This whale closed a short position of 60,869 XAG worth approximately $6.69 million USD.
- It was forced to accept a realized loss of $823,000 USD for this position.
🔶 Although it has partially cut losses, this whale has not given up on the intention to catch the peak given the current situation.
Data shows the current position reflects extreme recklessness:
- Currently, this whale still holds a SHORT position with a volume of 352,124 XAG.
- The value of the order still amounts to $38.7 million USD and uses 20x leverage.
🔷 With an average entry price of $97.342, while the current market price is already $109.93, this whale is facing an unrealized PnL of up to -$4.43 million USD.
- The liquidation price is very close to the current peak at $125.22.
- If Silver continues to make another crazy move up to this range like the candle wick at $118 this morning, this nearly $40 million account will be completely wiped out.
The action of holding a short position in counter-trend trading with 20x leverage while the market is experiencing extreme FOMO is like playing with fire.
This whale is betting that the increase in Silver is just a temporary bubble, but the current market still shows no signs of cooling down.
While Silver$XAG is continuously reaching new highs, a stubborn whale is making a massive short bet with extremely high leverage, and now the current price to pay is very steep.
🔷 Unable to withstand the immense pressure as the price of Silver surged to the $118 range, this whale had to partially cut losses to reduce risk:
- This whale closed a short position of 60,869 XAG worth approximately $6.69 million USD.
- It was forced to accept a realized loss of $823,000 USD for this position.
🔶 Although it has partially cut losses, this whale has not given up on the intention to catch the peak given the current situation.
Data shows the current position reflects extreme recklessness:
- Currently, this whale still holds a SHORT position with a volume of 352,124 XAG.
- The value of the order still amounts to $38.7 million USD and uses 20x leverage.
🔷 With an average entry price of $97.342, while the current market price is already $109.93, this whale is facing an unrealized PnL of up to -$4.43 million USD.
- The liquidation price is very close to the current peak at $125.22.
- If Silver continues to make another crazy move up to this range like the candle wick at $118 this morning, this nearly $40 million account will be completely wiped out.
The action of holding a short position in counter-trend trading with 20x leverage while the market is experiencing extreme FOMO is like playing with fire.
This whale is betting that the increase in Silver is just a temporary bubble, but the current market still shows no signs of cooling down.
