A 36-minute change in Bitcoin derivatives exposure left one account net long by $558,000 on Oct. 16, after it began the period $3.018 million net short.
The shift started at 10:16 a.m. ET (14:16 UTC), with short exposure exceeding long exposure by about $3.018 million. At 10:52 a.m. ET (14:52 UTC), long exposure was ahead by about $558,000.
New positions added roughly $406,000 to the short side and $574,000 to the long side. The account also shed about $3.427 million in short exposure and closed around $16,000 in long positions.
The account booked about $7,359 in losses on its closed positions; cumulative contract losses were around $26.24 million. In derivatives trading, “net short” means short exposure is larger than long exposure; “net long” means the reverse.
