BTC whale closes all $350 million long positions, with a total loss of $3.6 million

【Block Rhythm】Recently, there was an interesting trading story. A trader holding a large amount of funds closed all 3,846 BTC long positions (worth about $350 million) in the past 4 hours, resulting in a loss of approximately $3.6 million. This guy had previously placed a buy order expecting BTC to rise to $93,300, but it seems his plan has changed now. After closing the positions, he withdrew all remaining $31.7 million in margin from his account, acting quite decisively.

Speaking of this address’s background, it’s quite notable. He holds 30,060 stETH, with a market value close to $97 million. At the same time, he has deposited $370 million worth of assets on Aave, making him a major player. In recent days, he has successively invested $35.5 million into Hyperliquid, and yesterday, he built a position of 3,846 BTC long, once becoming the platform’s largest BTC long position, with the peak position size reaching $350 million. But he didn’t hold on for long and exited all positions. Such operations suggest either a wrong judgment of the market direction or some change that forced him to cut losses. More details would help clarify the logic behind this trade.