A significant Bitcoin long position worth $86 million was opened 10 hours ago, involving 1,000 BTC with 3x leverage. The entry price was $86,302, but the current price has dipped to $85,973, resulting in an unrealized loss of $329,000 (-1.15%). The funding cost for this position has reached $11,000 in just 10 hours. The trader, with a portfolio valued at $40 million and a very bullish bias, has achieved a 68.86% gain over the past 30 days, translating to a $17 million profit. This indicates a sophisticated investor rather than a retail trader. The decision to enter above $86,000 instead of waiting for a dip suggests strong conviction. However, the funding costs could become substantial if the price does not quickly rise above $86,300. The trader's equity has grown from $30 million to $40 million since October, reflecting a bullish strategy in play.