Bitcoin Whale’s 40x Long on 17 BTC Sinks 65%, Unrealized Loss Reaches $52k
COINOTAG News, December 17, citing Hyperinsight monitoring, reported that a prominent trader nicknamed “Whale” Huang Licheng escalated a 40x Bitcoin long, allocating 17 BTC to a single bet. The development illustrates persistent appetite for extreme leverage within the cryptocurrency market.
The entry price was $89,663.90, with a liquidation guard at $35,504.50. The position has swung to a roughly 65% unrealized loss from entry, and the overall long book shows about $52,000 in unrealized losses after earlier gains exceeding $300,000.
The episode underscores risk management imperatives for high-leverage crypto trades, emphasizing disciplined margin controls and level monitoring to navigate abrupt BTC price moves.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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