Bitcoin Whale Faces Significant Losses Amid High-Leverage Trading

On March 25, a Bitcoin whale using the address starting with 0xec3 engaged in high-leverage trading, according to BlockBeats. The whale opened a long position on Bitcoin with 40x leverage, holding 175 BTC valued at approximately $12.4 million, with an average price of $70,879 and a liquidation price of $69,988. This marked the 28th position opened by the whale in the past week. In the last hour, the whale closed a previous long position at break-even, which was initially valued at around $12.6 million, with an average closing price of $70,770. Over the past seven days, the whale has engaged in 28 instances of buying high and selling low in the Bitcoin market. During this period, the whale replenished the account 17 times, adding approximately $670,000 in total. Despite these efforts, the account's funds have dwindled from a peak of $1.7 million to just $310,000, resulting in a cumulative loss of $2.05 million, nearly depleting the account.