A high-risk bet by a whale is currently playing out with a loss on the scene.

This on-chain big player, who once deposited all at once and sold 255 BTC, opened a highly aggressive multi-asset short position on January 3rd — 10x leverage on BTC, 15x on ETH, 20x on SOL and XRP, and a more conservative 3x on STBL. It sounds like a bet that the market will experience a significant pullback.

However, the market did not follow this whale’s script. As prices moved in the opposite direction, the account’s unrealized loss has already exceeded $7 million. Even more heartbreaking, this position once had a paper profit of $5.5 million, but now it has directly reversed into a net loss of $2.5 million.

The speed at which the paper profit turned into an actual loss is as heartbreaking for this big player as it is swift. The #数字资产动态追踪 $BTC $ETH linkage once again proves how sensitive the balance of risk and reward is in leveraged trading.