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Whale Showdown: $391 million BTC long order VS $173 million ETH short order
Recently, the crypto market has shown signs of fluctuation and may be at a critical juncture for direction selection. Some large traders have opened huge leveraged Positions on a certain derivatives trading platform, betting on the market direction they favor.
Among them, a trader went long on 3,788.7 bitcoins with 40x leverage, which is worth approximately $391 million. The opening price of this Position was $103,083, and if the bitcoin price drops to $96,474, it will face liquidation risk.
At the same time, two other traders chose to short Ethereum. One shorted 41,851 Ethereum with 25x leverage, with a position value of approximately $103 million, an opening price of $2,514, and a liquidation price of $2,525. The other shorted 28,248 Ethereum with 20x leverage, with a position value of approximately $70 million, an opening price of $2,561, and a liquidation price of $2,694.
These large leveraged trades reflect the differing expectations of current market participants regarding short-term price movements. While high-leverage trading can bring high returns, it also carries significant risks. Market observers are closely monitoring the trends of these large Positions and their potential impact on the overall market.