AguilaTrades Cuts Back Bitcoin Exposure Amid Market Volatility

AguilaTrades, a well-known whale-level contract trader, has scaled down its Bitcoin exposure in response to recent market fluctuations, according to a report from HyperInsight via BlockBeats. The firm reduced its leveraged long position by 189.26 BTC, decreasing its total position value by approximately $25.96 million.

The initial position was a 20x leveraged long on Bitcoin, with a total size of $505.69 million and an entry price of $118,472. While the position still holds an unrealized profit of $655,580, it is incurring a negative funding fee of over $1 million. The move highlights cautious sentiment among major players, as high leverage combined with market instability increases downside risk.