According to BlockBeats, on October 18, top trader Eugene Ng Ah Sio announced on social media that he has closed his short positions. As Bitcoin's price increased, the open interest in BTC contracts diminished, prompting him to switch to a long position.
Screenshots reveal that Eugene Ng Ah Sio has now opened a 3x long position at a Bitcoin price of $67,354, with a total position size of $35.42 million.
Previously, BlockBeats reported that Eugene Ng Ah Sio expressed concerns about the high level of open interest in Bitcoin, especially with the upcoming elections, which could make the market more sensitive to BTC price drops.
