This whale/institution that made nearly $100 million through ETH swing trading has recently taken big actions again. After depositing 20 million USDC, they directly increased their BTC long position to 2,830 coins. Currently, this position is worth $259 million, a definitely huge fish.

However, the entry price was $92,318, and now it has a floating loss of $1.75 million. The liquidation price is set at $81,157, which means if BTC drops another $10,000, this large position will be liquidated. Interestingly, they are still adding to their position, either because they are extremely optimistic about the market or trying to lower their average cost. It’s important to note that such a level of holding, if it moves in the opposite direction, can cause noticeable market volatility.