An attempt by a group of traders to liquidate a whale that opened a giant short position on Bitcoin (BTC) failed.
A huge short position on Bitcoin (BTC), which has caused a lot of repercussions in the crypto market, has been targeted by a group of traders on the Hyperliquid platform. An anonymous investor opened a huge short position with 40x leverage for a total of $445 million in anticipation of a BTC price drop. Other traders who wanted to liquidate this position tried to push the whale's margin by quickly raising the price, but their efforts failed.
According to data from blockchain analytics platform Lookonchain, after traders pushed the price to a high of $84,690, the whale strengthened the margin by depositing $5 million worth of USDC to prevent its position from being liquidated. Thus, the liquidation attempt of the traders did not yield results, and the whale managed to make a profit by maintaining its position.
The liquidation operation lasted only 1 hour
The remarkable aspect of the trader's group's attack move was the rapid rise in the price of BTC just 1 hour after the action began. However, with the sudden reaction of the whale and the deposit of additional collateral, this attempt quickly came to naught.
The size of the position currently managed by the whale is worth approximately $449 million, totaling 5,406 BTC. The current unrealized profit of the position stands at $4.4 million. This once again reveals the importance of whale movements in the market and the need for traders to be careful.
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Liquidation Attempt for 445 Million Bitcoin Shorts Fails: Turned From the End! - Coin Newsletter
An attempt by a group of traders to liquidate a whale that opened a giant short position on Bitcoin (BTC) failed.
A huge short position on Bitcoin (BTC), which has caused a lot of repercussions in the crypto market, has been targeted by a group of traders on the Hyperliquid platform. An anonymous investor opened a huge short position with 40x leverage for a total of $445 million in anticipation of a BTC price drop. Other traders who wanted to liquidate this position tried to push the whale's margin by quickly raising the price, but their efforts failed.
According to data from blockchain analytics platform Lookonchain, after traders pushed the price to a high of $84,690, the whale strengthened the margin by depositing $5 million worth of USDC to prevent its position from being liquidated. Thus, the liquidation attempt of the traders did not yield results, and the whale managed to make a profit by maintaining its position.
The liquidation operation lasted only 1 hour
The remarkable aspect of the trader's group's attack move was the rapid rise in the price of BTC just 1 hour after the action began. However, with the sudden reaction of the whale and the deposit of additional collateral, this attempt quickly came to naught.
The size of the position currently managed by the whale is worth approximately $449 million, totaling 5,406 BTC. The current unrealized profit of the position stands at $4.4 million. This once again reveals the importance of whale movements in the market and the need for traders to be careful.