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Went wrong… fast 😡 Trader 0x9657 came in aggressive with a 40x long on $BTC , originally around 280 BTC (~$19M) -- but within less than an hour, things started to fall apart and the position got partially liquidated.
Right now, what’s left is still pretty heavy: He’s holding a 40x #BTC long worth about $12.17M, with roughly 179.3 BTC still in the position. Entry sits around $68,660, while the current price is near $67,900, putting him at a loss of about $136K (-44.8% ROE).
Liquidation is dangerously close at $67,385, and margin backing the trade is around $304K .
Overall PnL is sitting at around -$256K, and with 50x+ effective leverage on the account, it’s basically a knife-edge situation now.
WE GUESS: One more push down, and this could get wiped completely.
ADD: 0x9657aa2cd45f2cfe77bef47f026bd835edcd165c