Crypto Whale Opens Massive $136.91M Long Bitcoin Position Using 40x Leverage

A crypto whale has sparked a buzz in the community by opening a huge long position on Bitcoin (BTC) with 40x leverage, as revealed by blockchain data.

The whale, whose identity remains unknown, put up 1,420 BTC, which equals $136.91 million, at an average price of $96,629. The liquidation level for the position is at $87,638.

This high-risk, high-conviction move is evident as the trader entered the position with 40x leverage, an extreme level rarely seen among traders. At the time of the update, the position showed an unrealized loss of $244,800.

Moreover, the trader has incurred over $26,000 in funding fees, suggesting a calculated move, possibly targeting an anticipated liquidity surge. As crypto analyst Cedric Beau remarked, “That kind of leverage comes from someone who’s confident the next liquidity wave isn’t weeks away.”

This extreme 40x leverage comes as Bitcoin attempts to reclaim the $100K level, reigniting speculation on its long-term potential. According to crypto trader Peter Brandt, Bitcoin could reach between $120K and $150K by August, converging on a bullish mood.

According to crypto trader Peter Brandt, Bitcoin could reach between $120K and $150K by August, converging on a bullish mood.

However, traders are also reflecting this confidence by opening significant long positions in other assets.

XRP Futures Sentiment Surges

In support of the narrative, crypto analyst Ali Martinez has noted that 71.54% of traders on Binance Futures currently hold long positions in XRP. According to the analyst, the long/short ratio sits at a robust 2.51, reflecting widespread optimism among futures traders.

According to the analyst, the long/short ratio sits at a robust 2.51, reflecting widespread optimism among futures traders.

Essentially, XRP’s retail-heavy futures market appears to be responding in kind to the same level of confidence that is fueling the Bitcoin trader’s move.

The analyst said:

“Retail traders on Binance Futures are displaying an unusual level of bullish confidence, with 71.54% of traders on Binance Futures now holding LONG positions in XRP and a long/short ratio of 2.51.”

However, traders are also reflecting this confidence by opening significant long positions in other assets.

This extreme 40x leverage comes as Bitcoin attempts to reclaim the $100K level, converging on a bullish mood. According to crypto trader Peter Brandt, Bitcoin could reach between $120K and $150K by August.

This high-risk, high-conviction move is evident as the trader entered the position with 40x leverage, an extreme level rarely seen among traders. At the time of the update, the position showed an unrealized loss of $244,800.

Moreover, the trader has incurred over $26,000 in funding fees, suggesting a calculated move, possibly targeting an anticipated liquidity surge. As crypto analyst Cedric Beau remarked, “That kind of leverage comes from someone who’s confident the next liquidity wave isn’t weeks away.”