New Address Opens 40x Long Bitcoin Position After Trading $67.28 Million

A new address, 0x4ba6, received about $464,000 from three addresses yesterday evening and quickly moved the funds into a BTC contract after converting UBTC to USDC. According to Odaily, the address first opened a short position of 68.1 BTC, then repeatedly switched between long and short test trades before buying 181.3 BTC in two orders about half an hour ago. The position was opened at an average price of $66,411.6, with the trades totaling about $12.039 million. As of press time, the address held a 40x leveraged long position of 181.3 BTC valued at about $12.026 million, with a liquidation price of $64,580.7 and an unrealized loss of about $13,000. After building the position, the address placed a take-profit trigger order covering the entire position at $67,300.0. The account has been active for less than a day, its trading has been concentrated in BTC, cumulative turnover has reached $67.28 million, and overall profit and loss are currently flat.