On-chain analyst Ai Yi reported a $658,000 unrealized gain on a paired Bitcoin (BTC) and Ether (ETH) position after the two assets’ divergent moves improved the open trade.
Ai Yi said the wallet opened a Bitcoin long and an Ether short on Nov. 7 ET. Both legs used 20x leverage. Their combined value at entry was $20 million.
Bitcoin’s recovery relative to Ether benefited the position because the wallet was long BTC and short ETH. The two assets had first fallen sharply at 5 p.m. ET Nov. 8 (22:00 UTC). BTC then regained more ground than ETH.
The reported $658,000 was an unrealized gain: it reflected the value of positions that remained open, rather than profit booked from completed trades.
