A whale address opened short positions in major cryptocurrencies such as BTC and ETH on January 3rd and has now incurred a paper loss of $7 million.

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On January 7, according to Onchain Lens monitoring, a whale address that had previously deposited and sold 255 BTC to HyperLiquid has now suffered a floating loss of over $7 million on its short positions in BTC (10x leverage), ETH (15x leverage), SOL (20x leverage), XRP (20x leverage), and STBL (3x leverage) opened on January 3, turning a profit of $5.5 million into a loss of $2.5 million.

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