A giant whale closed 242 BTC long positions, incurring a loss of 1.042 million dollars

According to Hyperinsight monitoring, a certain whale closed a long position of 242 BTC at 13:47, realizing a loss of $1.042 million, and is currently going long on XYZ 100 with 20x leverage, with an average entry price of $25,144.79.

XYZ 100 essentially tracks the performance of the Nasdaq 100 index, similar to an on-chain version of Nasdaq 100 futures, allowing users to trade the ups and downs of the U.S. tech stock index 24/7 (including leverage).