A whale triggered a stop-loss order, liquidating its $20 million long position in the Nasdaq 100, incurring a weekly loss of $2.9 million.

According to Mars Finance, on February 5th, Coinbob's hot address monitoring showed that the address "Dear Large Trader" (0x894...) had closed out all its 10x leveraged XYZ100 (Nasdaq 100 index mapping contract) positions. This position was closed at 2 PM Beijing time yesterday, before the start of pre-market trading for US stocks. Previously, this position amounted to $21.1 million, with an average price of $25,443.47, and a paper profit that once reached $580,000. Ultimately, the position was closed at $25,291, resulting in the complete erasure of the paper profit and an actual loss of approximately $300,000. If this position had not been closed in time, with the Nasdaq falling further by approximately 1.75% today, the loss could have expanded to over $700,000. In addition, the address also liquidated its 10x leveraged COPPER (copper futures-mapped contract) position yesterday, which was approximately $18 million, with an average price of $5.94, ultimately realizing a profit of approximately $360,000. Currently, the trader's total positions have decreased to approximately $4 million, with a weekly loss of $2.9 million. Possibly to mitigate risk, it currently only holds long positions in Intel (xyz:INTC) and Micron (xyz:MU). This trader focuses on trading US stocks and on-chain precious metals, and was previously the largest long position holder in on-chain gold, and had previously held a $40 million position in the Nasdaq and copper prices.