Andrew Kang Doubles 40x BTC Long Position Following Trump’s 'Good Time to Buy' Remark
14.04.2025 12:59
Veteran trader Andrew Kang has significantly increased his exposure to Bitcoin by doubling his 40x leveraged long position from $100 million to $200 million on April 9, following former President Donald Trump’s comment that it was 'a good time to buy.' With Bitcoin trading above $85,000 and his average entry at approximately $82,076, Kang’s position currently boasts an unrealized gain of $7.7 million, although it risks liquidation if the price falls to $83,410. In addition to his bullish bet on Bitcoin, Kang holds a $6.7 million short position in Ethereum at 25x leverage on the decentralized exchange Hyperliquid, which has already resulted in a loss of $370,000 along with a small funding fee. He is also positioned long in Ethena (ENA) for $5.5 million at 10x leverage, having accumulated profits of $118,000 so far, with minimal funding fees. The news highlights the mix of leveraged positions across major coins and altcoins, underlining both the potential for high gains and the elevated risks linked to such trades.
The aggressive doubling of Kang’s 40x long position in BTC suggests strong bullish sentiment and potential short-term upward momentum due to increased buying pressure. However, the high leverage increases volatility, and a dip near the critical liquidation threshold ($83,410) could trigger sharp sell-offs. Historical leveraged moves indicate that such positions can boost price action if stability is maintained, with a sustained probability of price increase estimated at approximately 7/10.
Kang’s 25x leveraged short position in ETH, which has already incurred significant losses, indicates a bearish sentiment that might exert downward pressure on Ethereum in the short term. The risk associated with high leverage and recent underperformance could lead to further declines if market conditions worsen, although long-term fundamentals may eventually counterbalance this pressure. The likelihood of a sustained price drop is estimated around 4/10.
With a long position in ENA at 10x leverage that has already turned profitable, the news suggests a positive outlook for ENA despite its status as a smaller cap asset. While inherent volatility remains a risk, the modest leverage and early profit-taking indicate potential for short-term gains, with speculative but moderately positive long-term prospects. The impact on ENA’s price is estimated at a positive rating of around 6/10.
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