Huang Licheng’s address is still reducing its BTC and ETH long positions, with total unrealized profits of $948,000. The figure looks large, but it’s not much for a leveraged portfolio like this.
TradingBeats snapshot on October 7: a 25x long of 35,700 ETH, with an average entry price of $2,689.86 and $420,000 in unrealized profit; a 40x long of 455 BTC, with an average entry price of $84,908.7 and $357,000 in unrealized profit; and a 10x long of 145,500 HYPE. ETH’s current price is only a little over $6 above its entry price, while BTC is up by only about $535, leaving very little room for profit.
The position reductions came before unrealized profits had grown much. No specific amounts or timings for the reductions are available; all we can see is that the address is reducing leverage, with no corresponding opposite positions appearing.
For now, keep an eye on the address itself: whether the BTC and ETH long positions continue to shrink, whether the HYPE position is reduced as well, and whether any new margin is transferred in.
TradingBeats snapshot on October 7: a 25x long of 35,700 ETH, with an average entry price of $2,689.86 and $420,000 in unrealized profit; a 40x long of 455 BTC, with an average entry price of $84,908.7 and $357,000 in unrealized profit; and a 10x long of 145,500 HYPE. ETH’s current price is only a little over $6 above its entry price, while BTC is up by only about $535, leaving very little room for profit.
The position reductions came before unrealized profits had grown much. No specific amounts or timings for the reductions are available; all we can see is that the address is reducing leverage, with no corresponding opposite positions appearing.
For now, keep an eye on the address itself: whether the BTC and ETH long positions continue to shrink, whether the HYPE position is reduced as well, and whether any new margin is transferred in.