A whale with 40x leverage posts BTC sell order, amounting to $91 million

BlockBeats News, August 24th, according to TradingBeats (formerly Hyperinsight) monitoring, a whale with an address starting with 0xf517 has currently placed 190 BTC sell orders, not reducing their long position, in the range of $79,654 to $108,888, planning to sell 951.3 BTC. The nominal amount is approximately $91.78 million, with a weighted average order price of around $96,488.

BTC is currently trading at $77,351, with the sell orders priced approximately 3.0% to 40.8% higher than the current price. Since the orders are not "reduce only," once the trading volume exceeds their existing long position, it will directly force the position to short.

The whale currently holds a 40x leveraged long position on 94.1 BTC, worth around $7.277 million, with an average entry price of $77,330.3. Compared to the previous holding of 109.4 BTC, approximately 15.3 BTC have already been reduced.

Only about 10% of the 951.3 BTC sell orders will be used to close the long positions, while the remaining approximately 857.2 BTC will be converted to new short positions. If all orders are filled, the theoretical short position size will be around $82.7 million. Meanwhile, the address still has buy orders for 133.7 BTC at $74,088, worth approximately $9.908 million.

In addition, it has 108 open orders in other currencies, with a total nominal amount of about $8.932 million, mainly including:

HYPE Buy Orders: Holding 197,800 HYPE tokens, worth about $15.44 million, with an average entry price of $62.52, and placing a $5 million buy order at $62.2, approximately 20.2% lower than the current price.

LIT: Placing 71 sell orders in the range of $3.8081 to $6 for LIT, planning to short 36.22 thousand tokens, with an amount of around $1.84 million;

ZEC: Placing 29 sell orders in the range of $890.71 to $999 for ZEC, planning to open a new short position of about 1,560 coins, with an amount of around $1.484 million.

It is reported that this whale's layout spans the US stock market and the crypto market, often participating in the hottest assets, and has repeatedly become a major whale in the S&P 500, AMZN, SPCX, and other assets, with a historical total profit of nearly $30 million.

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