Trader AguilaTrades Closes Bitcoin Position Amid Market Fluctuations

According to PANews, trader AguilaTrades recently closed a significant Bitcoin position due to market adjustments. Initially, AguilaTrades utilized a 20x leverage to go long on Bitcoin, with a total position valued at $434 million. However, as Bitcoin's price experienced a downturn, the trader began to close the position in batches starting early this morning, completing the process ten minutes ago. The trade involved $29.85 million in USDC as collateral, resulting in a loss of $12.48 million, leaving $17.37 million in remaining funds. Currently, AguilaTrades holds only a single short position in Bitcoin valued at $870,000.