40x leverage trader opens $38.7M BTC long position

According to on-chain analyst ai_9684 xtpa, an address beginning with 0x854, known as a "40x leverage short-term trader," opened a 603.71 BTC long position worth about $38.67 million with 40x leverage. The entry price was $64,469, and the position is currently showing an unrealized loss of about $259,000. The address also placed limit buy orders worth a combined $31.44 million in the $63,500-$63,674 range. If all orders are filled, the total position size would expand to about $70.11 million. The analysis found the trader has mainly used a short-term strategy of closing positions within a few hours, and the current position is the trader's sixth-largest this year. If the limit orders are all executed, it would become the trader's largest position this year.