Jeffrey Huang cuts BTC long to $4M from $43M, taking $320K loss

Taiwanese singer Jeffrey Huang, also known as Machi Big Brother, sharply reduced a BTC long position to about $4 million from roughly $43 million as of 5:30 a.m. UTC on Sept. 8. Huang’s BTC long position fell to 50 BTC from about 541 BTC the previous night. The remaining position was worth about $3.92 million and carried 40x leverage. The average entry price was $79,294.9, with an unrealized loss of about $47,400. Realized losses from the position reduction came to about $305,600, and the net loss, including $14,400 in fees, was estimated at about $320,000.