Onchain Address Opens 40x Leveraged Long Position on Bitcoin

An onchain analyst, Onchain Lens, has reported that the blockchain address '0x2fc' has opened a new long position on Bitcoin using 40x leverage, involving 96.36 BTC. According to ChainCatcher, this address has previously engaged in multiple long and short trades on Bitcoin, with most positions being liquidated, resulting in cumulative losses exceeding $2.77 million.