AguilaTrades Closes Major Bitcoin Long Amid Market Volatility

PANews reports that well-known trader AguilaTrades has exited a massive long position on Bitcoin due to recent market fluctuations. The position, originally worth $434 million and leveraged 20x, was backed by $29.85 million in USDC.

As Bitcoin's price began to slide, AguilaTrades started closing the position in stages earlier today, finalizing the exit just ten minutes ago. The trade ended with a loss of $12.48 million, leaving $17.37 million in remaining collateral.

At present, AguilaTrades has only one open position — a $870,000 short on Bitcoin.