A prominent Bitcoin whale experienced a $3 million loss on a long position last night following a successful short during the market downturn on October 11. This whale, recognized as a “BTC OG,” had previously capitalized on the market crash by shorting effectively, resulting in a profit exceeding $1 billion. The recent loss comes after the whale’s significant gains, illustrating the volatility and unpredictability of cryptocurrency trading. Despite this setback, the whale’s overall profit from the recent trading activity remains substantial. This incident emphasizes the risks associated with long positions in a fluctuating market, even for seasoned traders.
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