A whale who used "revolving loans to go long on BTC" cut its losses and liquidated its positions, realizing a loss of $14.02 million.

PA一线
PA一线

PANews reported on March 20 that, according to on-chain analyst Yu Jin, a whale who had been using "revolving loans to go long on BTC" cut its losses and liquidated its positions, incurring a loss of $14.02 million.

  • Over the past year, he leveraged his position by borrowing USDC to buy more WBTC through a revolving loan, accumulating 742.8 WBTC at an average cost of approximately $89,137.
  • Today, an hour ago, he sold all 742.8 WBTC through FalconX for $70,266, withdrawing 29.75 million USDC to pay off his loan on Aave.
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Author: PA一线

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Machi closed out most of his long positions in ETH and BTC, incurring a cumulative loss of nearly $32 million.
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