The post Veteran Trader Andrew Kang Doubled His $100 Million 40x Bitcoin Long Position – Here’s His P&L So Far appeared on BitcoinEthereumNews.com.

Andrew Kang, one of the most well-known traders in the cryptocurrency world, made a new move in his recently opened Bitcoin long position, according to onchain data. Kang opened a 40x long position in Bitcoin worth $100 million on April 9, following US President Donald Trump’s statement that it was “a good time to buy.” Bitcoin has since risen and is trading above $85,000 at the time of writing. In today’s move, the trader doubled his position and now holds a $200 million BTC long position with 40x leverage. Kang’s current position has an average entry level of $82,076 and an unrealized gain of $7.7 million. Kang has paid $115,000 in funding fees to date. Kang will be liquidated if the Bitcoin price drops to $83,410. Kang’s position at 0xBb876071A63Bc4D9bfCf46B012b4437Ea7Ff4281 can be tracked via this link. On the other hand, when Kang’s other positions on the decentralized cryptocurrency exchange Hyperliquid are examined, it is seen that he has a short position in Ethereum worth $6.7 million at 25x. Kang has lost $370,000 from this position so far and paid a funding fee of $24. The trader also has another position in Ethena (ENA). Kang has a $5.5 million long position in ENA at 10x and has made $118k in profits to date, paying $399 in funding fees. However, it is necessary to remember that leveraged trading is very risky, and when combined with the high risk of cryptocurrencies, losses, including the entire principal, are inevitable. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/veteran-trader-andrew-kang-doubled-his-100-million-40x-bitcoin-long-position-heres-his-pl-so-far/

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Filed under: News - @ April 13, 2025 12:20 am