According to PANews, a trader recently suffered substantial financial losses due to volatile market movements in the cryptocurrency sector. On May 19, the trader initiated a short position on Ethereum (ETH) with a leverage of 25x when the price was $2,514. He accumulated a total position of $103 million. However, as the price of ETH increased, the trader was forced to gradually close the position, resulting in a loss of $2.46 million. Ironically, after the stop-loss was triggered, the price of ETH decreased.
In a subsequent move, the trader opened a long position on Bitcoin (BTC) at a price of $106,580, using a leverage of 40x to buy 166 BTC, representing a position valued at $17.6 million. The liquidation price for this position was set at $105,510. Given the high leverage, even a slight price correction in BTC could pose a significant liquidation risk for the trader.
#SaylorBTCPurchase #BinancePizza #币安钱包TGE #BinanceAlphaPoints #BinanceAlpha$1.7MReward
