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🔥The whale betting on BTC to outperform HYPE recorded another loss, with HYPE's rebound causing its weekly loss to exceed $1.9 million.
According to Hyperinsight monitoring, on April 13th, BTC slightly retreated, and HYPE followed suit but then rebounded above $41.
The whale, which profits from a long-term strategy of going long on BTC exchange rates, was once again under pressure, with a fund withdrawal of $1.9 million this week.
Currently, this address holds: a long position in BTC (40x leverage), with a scale of $30.06 million, an average price of $70,557; a short position in HYPE (5x leverage), with a scale of $23.03 million, an average price of $38.93.
It began deploying positions during the last major rally of HYPE and completed all the positions by March 20th, with a total scale of about $53 million.
Since establishing the position, the net profit and loss on both sides are approximately $1.32 million in loss.
#btc #hype