Whale Opens $23.05M Leveraged Long on Bitcoin at $102,700 After Five Consecutive Losses

A whale wallet opened a 40x leveraged long position on Bitcoin valued at $23.05 million at $102,700, on-chain analyst Yu Jin reported on Nov. 6. The position has a liquidation price of $101,400 and used the trader's remaining $570,000 in capital after five consecutive losing trades. The trader had lost $1.4 million shorting ETH the previous evening and withdrew additional capital from the trading platform to add to the position.