Address 0x506f Opens $21.22M BTC Short at $88,900 With 40x Leverage

An address starting with 0x506f opened a 40x leveraged short position on Bitcoin totaling 238.5 BTC, worth about $21.22 million, on Jan. 23, Hyperinsight data show. The position was initiated at $88,900 with a liquidation price of $90,046.9.