Just spotted something interesting on the chain — a big trader just opened a massive long position on BTC. We're talking about 600 bitcoins, or roughly $42.7 million, with 30x leverage. This is the kind of flash move you see when someone really believes in a direction.

The guy entered his position at $70,235.8, and now, with BTC trading around $77.74k, he's already in unrealized profit. That's pretty good timing — address 0x004E really chose his moment. Then again, with 30x leverage, don’t forget that the liquidation price isn’t far off either (66,942.69), so it’s still a risky position.

This is the kind of position you follow with on-chain data. Lookonchain provides this info in real-time, and honestly, it shows that even with the recent market flash moves, there are still big players making their moves. We’ll see how it ends.