Whale address 0xcbd… averages down a 40x leveraged BTC short position, with a liquidation price of $70,600.

On March 12, Hyperinsight monitoring showed that in the past half hour, during the brief surge of BTC above $70,000, address 0xcbd… continued to average down its 40x leveraged BTC short position, adding approximately 23.3 BTC (about $1.6 million). After accumulating positions, the address's total holdings reached $3.12 million, with the average opening price rising to $69,556. Currently, there is a floating loss of 16%, and the position was opened three hours ago. At the same time, the address has placed take-profit orders in the $69,200 to $69,450 range, planning to close positions in batches, with the liquidation price set at $70,637.