40x Leveraged Whale Engages in "Rekt Pleb" Maneuver: Opens $12M BTC Short, Takes Small Loss, Then Quickly Goes Long

BlockBeats News, March 24th, according to Hyperinsight monitoring, "0x9311" starting whale opened a short position with 40x leverage for 176 BTC (worth about $12.4827 million) 19 minutes ago, experienced a small loss of $7,000, and quickly switched to a long position, opening a long position for 190 BTC (about $13 million) at the same leverage. The average entry price was $70,963.6, and the liquidation price was $67,599. The whale has frequently opened high-leverage BTC contracts in the past, with an overall recent account loss of about $8.5 million.