Unrealized Loss Exceeds $84 Million, BIT-Connected Whale Opens Long Position on 120,000 ETH with 15-20x Leverage

According to on-chain data, as ETH drops below $1,600, the unrealized loss on a long position of 120,000 ETH held by a BIT-connected whale has exceeded $84 million.

The data shows that the position was established with 15x to 20x leverage, and the whale has already paid approximately $1.85 million in funding fees.