Ethereum Whale lxuan.eth Spend $8.51M for One Hour to Long 77.21 cbBTC
For the past one hour, Ethereum whale lxuan.eth don deploy $8.51 million to cycle long 77.21 cbBTC at average price wey be $110,230. Dis leveraged cbBTC position don yield floating profit of $18,000. To back the trade, lxuan.eth put all 77.21 cbBTC as collateral to borrow 5.318 million USDC, dey maintain health factor of 1.25. Traders suppose dey monitor cbBTC leverage trend for possible short term wahala and think about long term bullish signals for Bitcoin derivatives.
Bullish
One big whale wey dey drop $8.51 million enter leveraged cbBTC longs dey show say e get strong belief for Bitcoin derivatives bullish trend. As e be before, when big whales dey hold big leveraged positions, e dey usually make buying pressure rise and short squeezes happen, wey dey support short-term price increase. For long run, dis move dey show confidence for BTC upward journey and e fit make more leveraged flows enter cbBTC. Traders suppose dey watch debt health and liquidation risk as dem fit cause volatility.