According to a report by Golden Finance, the blockchain analysis platform Lookonchain’s monitoring shows that the identity of the mysterious whale address 0x1f25, which previously held a 20x leveraged long position in Bitcoin (BTC), has been revealed. It is user X @AguilaTrades. Over the past four days, this whale has transferred 29.85 million USDC stablecoins from the cryptocurrency trading platform Bybit to Hyperliquid as margin for high-leverage long positions on BTC. As of now, this transaction has generated a floating loss of more than 5.5 million US dollars. Despite significant losses, during the period when the Bitcoin price was falling, @AguilaTrades still chose to increase his position and continued to bet on the long position of BTC.
Just as the market was closely watching the operation of the giant whale, the market situation suddenly fluctuated sharply. According to Golden Finance data, the price of BTC has dropped below the key level of $107,000. As of the time of publication, the quoted price was $106,973.41, with a 24-hour decline of 2.1%. This sharp decline not only keeps market investors on edge but also poses greater risks to AguilaTrades, which had previously insisted on increasing its long position. If the price of BTC continues to decline, the losses from its holdings may further intensify.
Market participants hold different views on this. Some investors believe that the continuous long position of the giant whale may indicate that Bitcoin has the potential to rebound. However, some analyses point out that the current market is highly volatile and the risk of holding positions with high leverage is extremely high. Investors need to closely monitor market changes and carefully control risks.
Related Topics:
