BlockBeats message, on August 25, according to on-chain analyst Ai Yi (@ai_9684xtpa), a certain Bitcoin bull was liquidated at $109,892, resulting in a loss of $12.49 million.
Yesterday, the downward spike in BTC directly caused significant losses for the bulls, with $628 million liquidated across the network in the past 24 hours, affecting over 130,000 people.
As for the reason, many analysts have speculated: it may be due to the sell-off by the "ancient whale of BTC who has been dormant for seven years and is now high-profile switching to $ETH". Currently, they still hold 67,118 BTC (worth $7.62 billion) on-chain.
