The post $1M BTC Short With 20x Leverage Turns Sour appeared on BitcoinEthereumNews.com. A big-bet Bitcoin investor has attracted attention after putting down $1 million in USDC in the decentralized exchange HyperLiquid and acquiring a huge short position in Bitcoin. The trader had 20x leverage as he opened the short time with the view that Bitcoin price would go down. But the gamble has gone astray so far, and the position is in the red. The Bitcoin Position Breakdown This trader carried out a short of 111.75 BTC-USD contracts amounting to more than 12 million, according to blockchain-collected data by Hypurrscan. The opening price was fixed at 107 363.5, however, the market price of Bitcoin has since surged to approximately 108 976, drifting the position into a serious loss range. The loss as shown in the short has increased by a floating loss of 180,178.76, decreasing the balance of the account to approximately 814,874 instead of 1 million. The position is subject to loss though much of the loss is unrealised and it is scheduled to be liquidated at a price of 114,830. High Leverage, High Stakes The 20x leverage draw attention to the fact that such betting is very risky. Leverage is good as it allows traders to increase exposure on a reduced starting level, but increased losses are amplified as well. The trader is betting against the strength of the Bitcoin in the short term since the liquidation threshold is not too far from the current levels. There is also an added cost in the form of funding fees. Up to this moment, the account records the credit of a sum of 451.64 in funding, but this is nothing in view of the six figure paper loss. Onchain Lens a blockchain analytics platform flagged the trade as a “gambler” by trading an overly speculative position. According to crypto observers, such sizable,… The post $1M BTC Short With 20x Leverage Turns Sour appeared on BitcoinEthereumNews.com. A big-bet Bitcoin investor has attracted attention after putting down $1 million in USDC in the decentralized exchange HyperLiquid and acquiring a huge short position in Bitcoin. The trader had 20x leverage as he opened the short time with the view that Bitcoin price would go down. But the gamble has gone astray so far, and the position is in the red. The Bitcoin Position Breakdown This trader carried out a short of 111.75 BTC-USD contracts amounting to more than 12 million, according to blockchain-collected data by Hypurrscan. The opening price was fixed at 107 363.5, however, the market price of Bitcoin has since surged to approximately 108 976, drifting the position into a serious loss range. The loss as shown in the short has increased by a floating loss of 180,178.76, decreasing the balance of the account to approximately 814,874 instead of 1 million. The position is subject to loss though much of the loss is unrealised and it is scheduled to be liquidated at a price of 114,830. High Leverage, High Stakes The 20x leverage draw attention to the fact that such betting is very risky. Leverage is good as it allows traders to increase exposure on a reduced starting level, but increased losses are amplified as well. The trader is betting against the strength of the Bitcoin in the short term since the liquidation threshold is not too far from the current levels. There is also an added cost in the form of funding fees. Up to this moment, the account records the credit of a sum of 451.64 in funding, but this is nothing in view of the six figure paper loss. Onchain Lens a blockchain analytics platform flagged the trade as a “gambler” by trading an overly speculative position. According to crypto observers, such sizable,…