On-chain data shows that the opposing side's ETH long positions are completely gone, and BTC short positions are also getting hit. High leverage in extreme market conditions is just a meat grinder; a -73% IRR is enough to be included in DeFi risk textbooks.

BTC0.43%
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MeNews
Strategy's opposing side ETH long positions all forcibly liquidated, BTC short positions have turned from profit to loss
ME News message: On May 24 (UTC+8), according to on-chain data monitoring, the newly opened Ethereum long positions of Strategy’s counterparty were fully liquidated this morning, while the 40x leveraged Bitcoin short positions were partially liquidated and reduced; currently, it only holds 8.332 BTC, and the overall position has turned from profit to loss. The current investment return rate is -73.05%. (Source: PANews)
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