0x0558 dey liquidate BTC long position as profit dem dey fall
For sharp market crash, di address 0x0558 comot all im ETH long position finish, also e part liquidate im leveraged BTC long positions. Now e hold 640 BTC longs wey value reach $72.3 million. The profit for the BTC longs dem fall from plus $18 million to around $494,700 within five days, e show say high leverage get risk when market dey volatile. This forced liquidation show why e good make person dey serious for risk management and set tight stop-loss orders when you trade with leverage. Even though 0x0558 comot for ETH, e still hold BTC show say e get faith for Bitcoin long-term potential.
Bearish
Di forced sell-off wey happen for 0x0558 BTC long position dem plus complete waka from ETH long positions inside volatile market fit cause Bitcoin price to drop small for short term. Profit loss wey drop from over $18 million go below $0.5 million mean say heavy sell dey happen and e show say too much leverage get gbege. But the address decision to still keep plenty BTC suggest say dem still believe say price go go up long term. Overall, short term effect on BTC price na bearish as dem dey face serious liquidation wahala, but if market confidence strong, e fit help reduce loss as time dey go.