Whale 'Lightning Counter' Reduces BTC Position Again, Losses Grow

Whale 'Lightning Counter' Reduces BTC Position Again Amid Growing Losses

Data monitored by Hyperinsight shows that on January 12, the whale known as 'Lightning Counter' (wallet address 0x50b30) sold off 16.96 BTC, realizing a $4,401 loss on the transaction.

Despite trimming their holdings, the whale continues to hold a long BTC position with 20x leverage. The current value of this 16.96 BTC position is approximately $1.55 million, but market fluctuations have led to an unrealized loss of $5,000.

Increased ETH Short Position Adds Pressure

Notably, the whale has also established a large ETH short position at 14x leverage, totaling 11,366.46 ETH. The average entry price for this short position was $3,073.66, and it currently shows an unrealized loss of $843,000.

• BTC Long: 16.96 BTC (~$1.55M), 20x leverage, $5,000 unrealized loss
• ETH Short: 11,366.46 ETH, 14x leverage, $843,000 unrealized loss

These moves suggest the whale continues a mixed strategy, but mounting losses highlight the challenges of leveraged trading in the current market conditions.