Whale Closes $49.59M BTC Short, Loses $547K Across Three Trades

On September 8, according to on-chain analyst Ai Yi, a whale previously opened a 4x leveraged short position on BTC worth $49.59 million, and closed it after holding for less than 7 hours, incurring a loss of $114,000. The address had previously shorted BTC twice, both ending in losses, bringing the total cumulative loss from three short trades to $547,000.

Currently, the whale still holds a 4x leveraged long position of 20,000 ETH, with an unrealized profit of approximately $10.71 million.

[TechFlow]