The on-chain trader known as 'pension-usdt.eth' has incurred significant losses totaling $18 million due to short positions on Bitcoin (BTC) and Ethereum (ETH). According to Hyperinsight monitoring, BTC's price surged past $81,000, exacerbating the trader's losses. The trader holds a 3x leveraged BTC short position valued at $81.2 million, with an average entry price of $67,992, and a 3x leveraged ETH short position worth $47.3 million, entered at an average price of $2,131.
This development has made 'pension-usdt.eth' the largest losing address on the Hyperliquid platform over the past 7 and 30 days. The address is now the largest BTC short position holder on-chain, highlighting the risks associated with leveraged trading during volatile market conditions.
On-Chain Trader 'pension-usdt.eth' Faces $18M Loss on BTC, ETH Shorts
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