Cryptocurrency whale 0x7e8b liquidates a large volume of BTC and ETH but quickly increases the leverage ratio to profit
According to monitoring data from Lookonchain, on June 23, a cryptocurrency whale with the address 0x7e8b suffered significant losses due to the market crash. This whale was liquidated on a long position of up to 965 BTC (equivalent to 97.5 million USD) along with 12,024 ETH (26.22 million USD). The total direct loss exceeded 3.5 million USD.
The picture of huge liquidations in the cryptocurrency market
This liquidation reflects the immense pressure during the period of severe volatility in the cryptocurrency market. 965 BTC and 12,024 ETH is an extremely large volume, showcasing the scale of whale 0x7e8b's position. Such liquidation orders often cause the phenomenon of price pumping and dumping, increasing temporary liquidity but creating significant volatility.
Strategy to quickly re-enter the market with 40x leverage
Not stopping there, right after being liquidated, this whale re-entered the market with a long BTC position at a leverage ratio of 40 times, which is very risky. Currently, this position has an unrealized profit of about 1.06 million USD. This is clear evidence of a professional trader's strategy to take advantage of the assumed market recovery.
Impact and lessons for cryptocurrency investors
The phenomenon of liquidation on a scale of hundreds of BTC and ETH along with the quick re-entry of whale 0x7e8b warns investors about the risks of leverage in the cryptocurrency market. High leverage can bring attractive profits but carries the risk of rapid losses during strong fluctuations. Therefore, tight capital management and risk control are core factors for long-term survival.
The fact that a whale dares to re-enter the market after a huge liquidation demonstrates the determination and boldness in the trading of big players. This also reflects deep liquidity and the ability to absorb large capital flows in the cryptocurrency market. Individual investors should consider carefully to avoid falling into the trap of excessive leverage and market manipulation.
Source: https://tintucbitcoin.com/whale-loses-40x-btc/
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