Anonymous Whale Faces $774,000 Loss on $70 Million 40x Bitcoin Position

An anonymous whale opened a $70.08 million 40x position on Bitcoin.

According to Lookonchain’s September 11 post, an anonymous address starting with 0x396d opened a 911.55 Bitcoin (BTC) long position approximately 10 hours ago. The total value of the position was recorded at $70.08 million.

The trading dashboard shows the position was opened with 40x cross leverage at an entry price of $77,733.2. If the Bitcoin price drops to $76,308.6, the position could be liquidated.

$774,000 unrealized loss on Bitcoin position

At the time of the post, the position’s mark price was at $76,947. The screenshot shows the trade carrying an unrealized loss of $774,088.93 at this stage.

Lookonchain also reported that the whale has closed 92.5% of its 80 recent Bitcoin trades in profit. The $76,947 mark price on the screen was approximately $638 above the $76,308.6 liquidation level.