Wallet Shows $658,000 in One-Day Unrealized Profit on Bitcoin, Ether Positions

A crypto wallet showed $658,000 in one-day unrealized profit on paired 20x leveraged Bitcoin (BTC) and Ether (ETH) positions. The wallet opened a 20x leveraged short in Ether and a 20x leveraged long in Bitcoin on Nov. 7 ET, the morning of Nov. 8 in China. The positions were worth $20 million when opened. At 5 p.m. ET on Nov. 8 (22:00 UTC), both cryptocurrencies fell sharply. Bitcoin then rebounded more strongly than Ether, widening the positions' unrealized profit. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.