Gate News reports that on March 25, spot gold prices surged over 5% intraday, with the price of a certain platform’s GOLD contract briefly returning to $4,600, currently trading at $4,590. Driven by the rebound in gold prices, a major short whale was forced to liquidate two large positions in the $4,500 to $4,520 range, each exceeding $1 million, totaling over $7.7 million in liquidations. Its remaining position has now fallen below $1 million. Meanwhile, the “largest on-chain gold short” (0x06a) is also under pressure. Its previously unrealized gains of up to $6.3 million have been rapidly cut to $3.2 million during this rally, nearly halving. This address currently holds a 4x leveraged GOLD short position worth approximately $33.7 million, with an average entry price of $4,972, and has not yet adjusted its position.
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