BTC Long Position Holds $72.3M Amid Market Decline Despite Massive Profit Erosion
Main Idea
The 0x0558 address liquidated all ETH long positions and retains 640 BTC longs worth $72.3 million amid a market decline, with profits dropping from $18 million to $494,700.
Key Points
1. The 0x0558 address fully closed ETH long positions due to a sharp market downturn on August 2nd.
2. Currently, the address holds 640 BTC long positions valued at $72.3 million.
3. Profits for the address plummeted from over $18 million to just $494,700 within five days.
4. The liquidation highlights the high volatility and risks in crypto trading, emphasizing the need for risk management.
5. Despite the market decline, the BTC long position remains open, representing a significant stake in BTC's future.
Description
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