Gate News bot message, A prominent whale trader identified as 0xa523 has closed all Ethereum (ETH) long positions, resulting in a loss exceeding $36 million. Following this closure, the trader immediately transitioned to a short position on Bitcoin (BTC) with 25x leverage, establishing a position of 1,107 BTC valued at $122.4 million.
According to Lookonchain's earlier report, the whale had previously experienced significant losses, closing a long position of 41,931 ETH ($179.4M) at a $10M loss just 5 hours prior. The trader's pattern of opening long positions at market highs and closing at lows has resulted in accumulated losses surpassing $30 million in a single week.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Whale 0xa523 Suffers $36M Loss on ETH, Switches to BTC Short Position
Gate News bot message, A prominent whale trader identified as 0xa523 has closed all Ethereum (ETH) long positions, resulting in a loss exceeding $36 million. Following this closure, the trader immediately transitioned to a short position on Bitcoin (BTC) with 25x leverage, establishing a position of 1,107 BTC valued at $122.4 million.
According to Lookonchain's earlier report, the whale had previously experienced significant losses, closing a long position of 41,931 ETH ($179.4M) at a $10M loss just 5 hours prior. The trader's pattern of opening long positions at market highs and closing at lows has resulted in accumulated losses surpassing $30 million in a single week.