Add as a preferred source on GoogleBitcoin Rebound Puts $21.62 Million in Leveraged Shorts Near Liquidation
Two traders using 40x cross-margin leverage held 261.82 BTC in short positions as Bitcoin rebounded after trading near $81,700.
Two leveraged Bitcoin (BTC) short positions worth about $21.62 million faced liquidation risk on Oct. 9 as Bitcoin rebounded after trading near $81,700, pressuring traders betting on lower prices.
One wallet, identified by an address beginning 0x4b62, held a short position of 101.82 BTC opened at an average price of $81,771. The position was worth about $8.41 million and carried an unrealized loss of roughly $82,200. Its liquidation price was $82,731.81.
A second wallet, beginning 0x1f25, initially shorted 200 BTC at an average price of $81,743. After 40 BTC were forcibly closed, the trader held a 160 BTC short position worth about $13.21 million.
The second position had an unrealized loss of approximately $133,700, with liquidation set at $82,959.25. The trader had already realized a loss of about $38,500 from the partial liquidation.
Together, the wallets held 261.82 BTC in short positions. Both trades used 40x cross-margin leverage.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.