AguilaTrades Opens $7.19 Million Bitcoin Short at 40x Leverage

AguilaTrades opened a 40x short position in Bitcoin (BTC) worth about $7.19 million, adding another leveraged trade after losses exceeding $38 million and multiple liquidations. The Nov. 3 position covers 93.67 BTC and had an estimated liquidation price of $77,435.21. A short gains value when the asset falls and loses value when it rises. With 40x leverage, a relatively small price move can have a large effect on the funds backing the trade. Liquidation means the position is forcibly closed when those funds fall below a required level. Enna Lee reports on investing and digital-asset markets for TokenPost.

Source: TokenPost