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A $100 Million Long Position Opened on Bitcoin at This Price! Who is Behind the Transaction? - Coin Bulletin
A giant investor in the cryptocurrency market faces a loss of $824,000 in a leveraged position opened with $100 million worth of Bitcoin (BTC).
According to data shared by crypto analytics platform Lookonchain, a transaction has taken place that has attracted a lot of attention in the crypto world. A wallet that Rewkang had previously funded but was confirmed not to belong to famous investor Andrew Kang recently deposited $2.5 million worth of USDC on the Hyperliquid platform. With this trade, a huge Bitcoin (BTC) position was opened using 40x (40x) leverage.
The total Bitcoin position of the wallet owner has currently reached 1.292 BTC and the market value of this amount is approximately 100 million dollars. The liquidation price for this large position has been set at 77,248 dollars. The investor’s position is currently at a loss of 824 thousand dollars.