Whale Account Cuts 50 BTC Long as Cumulative Losses Touch $20.84 Million

A large crypto derivatives account has reduced its leveraged Bitcoin long position by 50 BTC, leaving 300 BTC in remaining open exposure. The closing trades totaled roughly $3.87 million at an average execution price of $77,461.81, realizing an immediate loss of approximately $80,000 and bringing cumulative losses to about $20.84 million. This latest reduction follows a previous move by the same wallet on November 2, when it cut its Bitcoin long position by approximately $7.71 million as cumulative losses mounted to roughly $20.91 million amid challenging leveraged market conditions.