A certain Bitcoin long position was liquidated at $109,892, resulting in a loss of $12.49 million, possibly due to a sell-off by an ancient whale who has been dormant for seven years and is high-profile swapping into ETH.


According to Jincai Finance, on-chain analyst Ai Yi (@ai_9684xtpa) monitored that a certain Bitcoin long position was liquidated at $109,892, resulting in a loss of $12.49 million. Yesterday, the downward spike of BTC caused significant losses for long positions, with a total liquidation of $628 million across the network in the past 24 hours, affecting over 130,000 people. As for the reasons, many analysts have speculated that it may be due to the dumping of BTC by ancient whales who have been dormant for seven years and are now high-profile switching to ETH. Currently, they still hold 67,118 BTC (worth $7.62 billion) on-chain.
BTC1.82%
ETH0.55%
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