Single Trader Lost $55M on Ether Long Yesterday

Data suggests highly leveraged longs, or bets on, higher prices were taken out in a textbook long squeeze event amid unsubstantiated rumors of SpaceX selling its bitcoin holdings. The company merely wrote down the book value of its holdings, which was interpreted by sales in parts of the market, leading to selling pressure.

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• Source: https://www.coindesk.com/markets/2023/08/18/single-trader-lost-55m-on-ether-long-yesterday/?utm_medium=referral&utm_source=rss&utm_campaign=headlines