A certain whale opened a 40x leveraged BTC long position of 12.4 million USD, with 28 operations in the past 7 days accumulating losses of 2.05 million USD.

Gate News reports that on March 25, according to Hyperinsight monitoring, a whale address starting with 0xec3 opened a BTC long position with 40x leverage, holding 175 BTC worth approximately $12.4 million. The opening price was $70,879, with a liquidation price of $69,988. This is the 28th time this address has opened a position in the past week.

Within the last hour, the address closed its previous BTC long position at break-even, with a holding value of about $12.6 million and an average closing price of $70,770.

In the past 7 days, the address repeatedly engaged in 28 buy-high-sell-low trades in the BTC market, repeatedly buying high and selling low. During this period, it added funds to the account 17 times, totaling approximately $670,000. However, the account balance has continuously shrunk from a peak of $1.7 million to just $310,000 now, with a total loss of $2.05 million this week.