$BTC something gonna happen soon .

A mysterious whale received widespread attention after it opened a massive $276.47 million bitcoin long position using 40x leverage on Hyperliquid, a decentralized exchange for perpetual contracts. According to on-chain data, the trade started at a price of $103,129.8, with a very tight liquidation point at $95,000. This means that a small drop in price could result in the entire trade being liquidated.

The trade involves the equivalent of 2,670 BTC, making it one of the largest individual bets currently on the chain. Leverage allows traders to borrow money to execute larger trades, but at 40x leverage, even a small drop in price - just 2.5% - can wipe out the entire trade. This whale is taking a high-risk gamble, betting heavily that the price of Bitcoin will continue to rise.

The whale's portfolio, labeled 0x507.6ebd6, holds more than $43 million spread across other bets as well. Besides Bitcoin, he has a long position on PEPE worth $43.13 million with 10x leverage, as well as a position on XRP worth $34.56 million with 20x leverage.

Earlier this year, another whale opened a massive short position on Bitcoin worth $524 million using 40x leverage as well. That trade was executed at a price around $83,898, with a liquidation point at $85,565. If the price of Bitcoin had risen above that, the trade would have been completely liquidated.

Currently, the price of bitcoin stands at $103,094, down 0.9% in the last 24 hours. Trading volume is down 21% to $37.42 billion, while the total cryptocurrency market capitalization stands at $2 trillion, according to CoinMarketcap data

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