Cryptocurrency trader AguilaTrades has reported a significant financial loss stemming from a high-leverage position. The trading entity experienced the partial liquidation of its Bitcoin long position, leveraged at 20 times.
Approximately 720 BTC contracts were closed during this liquidation event. This resulted in a realized financial loss of about $2.1 million for AguilaTrades.
This incident underscores the substantial risks inherent in utilizing high leverage within volatile cryptocurrency markets.