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On-Chain Whale Opens 20x Leveraged BTC Short Position Worth $23M, 16th Short This Month

GateNews
bitcoin newsDerivatives Data
BTC0.16%

Gate News message, April 28 — A major on-chain Bitcoin whale (address 0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8) has opened a 20x leveraged BTC short position worth approximately $23 million, according to Hyperinsight monitoring. The position consists of 300 BTC at an average entry price of $76,612.

The address has consecutively opened 16 short positions since the beginning of April, with 9 of them currently profitable. The average holding time for these positions is approximately 21 hours.

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