Trader Opens $52.35 Million Longs in BTC, ETH and ZEC, Then Cuts Positions After Market Falls

A blockchain analyst tracked address 0x970…62a93 opening $52.35 million in long positions at about 2:45 a.m. today during an uptrend, including 650 BTC, 500 ETH and 900 ZEC. According to ChainCatcher, the market then continued to decline after the positions were opened. By this afternoon, the address had closed its ETH and ZEC longs and reduced its BTC position by 50 coins, exiting with a loss of about $150,000. It still holds 600 BTC, with an opening price of $78,663.8 and an unrealized loss of about $1.42 million.