According to ChainCatcher, as monitored by analyst Yu Jin, the trader (@AguilaTrades) has completely closed out his 20x long BTC position of $434 million, incurring a loss of $12.48 million.
He started longing BTC on the 9th and progressively rolled over his position to expand it to $434 million by the 11th. He began liquidating the position in batches after BTC price retraced in the early morning, completing the full closure 10 minutes ago. He used $29.85 million in USDC as margin and still has $17.37 million in funds after fully closing the position. Currently, he has opened a small BTC short position worth only $870,000 in his address.
