COINOTAG News reported, citing LookIntoChain monitoring on December 2, that nine consecutive profitable traders were liquidated after a high-leverage move on BTC. The exposure centered on a 500 BTC short positioned at 40x leverage, which was closed as market dynamics shifted.
Despite nine straight winning trades totaling about $2.12 million in gross profits, the 40x short unwind yielded a loss of over $1.78 million, nearly erasing prior gains. The episode underscores the perils of extreme leverage and highlights the necessity of rigorous risk management in crypto trading.
Source: https://en.coinotag.com/breakingnews/bitcoin-9-consecutive-profitable-trades-liquidated-1-78m-loss-on-a-40x-leveraged-500-btc-short
