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A well-known short trader is at it again. During yesterday morning's decline, he shorted another 510 BTC (equivalent to 47.3 million USD), pushing his total short exposure to 200 million USD.
This number sounds frightening because he's really walking a tightrope now—BTC short positions are only $1,600 away from the liquidation price, and ETH shorts are even more extreme, with the liquidation price just $56 away. Even a small bullish candle could trigger a liquidation.
Here are the position details:
▸ BTC short 1073 coins (about 100 million USD), entry price $92,469, liquidation price $94,384. Currently, unrealized loss is 280,000 USD.
▸ ETH short 31,093 coins (about 100 million USD), entry price $3,270, liquidation price $3,246. Currently, unrealized profit is 2.49 million USD.
But this is only a temporary lead. Once the market moves in the opposite direction, this brother's account will face the risk of being wiped out. Extreme leverage is like that—profitable when things go well, but wiped out instantly when they go wrong.