Unrealized loss exceeds $84 million; BIT-associated whale opens long on 120,000 ETH with 15x-20x leverage

Odaily reports that, according to on-chain data, as ETH falls below $1,600, the unrealized loss on the long position of 120,000 ETH held by a BIT-associated whale has now exceeded $84 million.

Data shows that the position was established using 15x to 20x leverage, and approximately $1.85 million in funding fees have been paid cumulatively.