A prominent cryptocurrency investor known as ‘First Set 10 Big Targets’ has reported leveraged trading profits exceeding $10 million derived from positions in Bitcoin (BTC) and Ethereum (ETH).
The whale’s profit strategy primarily involved earning $7.494 million from prior leveraged short trades executed against BTC and ETH price movements.
Currently, the investor holds a substantial leveraged long position on Bitcoin, utilizing 5x leverage. This position involves 1,930.979 BTC with an average entry price of $112,992.84.
The open trade is currently showing approximately $1.31 million in unrealized profit. Approximately $43.9 million serves as margin for this active BTC trade.
Significant leveraged positions of this scale can potentially impact market liquidity and contribute to short-term price volatility events.
The whale’s activity underscores the amplified risk/reward profile inherent in leveraged cryptocurrency trading, highlighting the critical importance of robust strategy and meticulous risk management for participants.