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The Evaded who just made 7.5 million from long positions turned around and went short.
Lookonchain monitoring shows—
Evaded reopened a short position of 525.34 Bitcoin, worth $40.32 million, with 40x leverage, liquidation price at $77,413.63.
40x leverage short of $40 million—Bitcoin is currently around $76.6k, only about 1% away from the liquidation price of $77,413.
Extreme operation.
On the other side, his 53,500 ZEC long (worth $32.92 million) is currently losing $1.87 million.
A few days ago, he was dominating with ZEC and HYPE longs, now that ZEC longs are losing, he opened another 40x BTC short.
People who make money are most likely to get overconfident.
With this 40x short, it’s either to keep dominating or to pay back the previous profits, principal and interest.
The 1% liquidation margin leaves almost no room for Evaded’s error margin.