A whale closed his short position during the rise of Bitcoin, losing more than $1.6 million

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On May 8th, according to Lookonchain monitoring, a whale closed their short position during BTC's price surge, suffering losses of over $1.6 million.

The whale had previously shorted BTC with 11x and 40x leverage. The position size reached $127.7 million, with liquidation prices of $104,600 and $103,470 respectively.

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