All unrealized gains wiped out in three hours
Lookonchain reported that trader AguilaTrades’ position was once up $165,000, but was liquidated three hours later, handing both the paper profits and the principal back to the market.
Going from $165,000 in unrealized gains to liquidation in three hours suggests leverage of at least several dozen times. A price move of just a few percentage points in the opposite direction would be enough to hit the liquidation threshold. Liquidation orders of this size can hit the order book directly, and they’re often what fuels the long lower wick during a sharp drop.
$BTC $ETH $SOL
Lookonchain reported that trader AguilaTrades’ position was once up $165,000, but was liquidated three hours later, handing both the paper profits and the principal back to the market.
Going from $165,000 in unrealized gains to liquidation in three hours suggests leverage of at least several dozen times. A price move of just a few percentage points in the opposite direction would be enough to hit the liquidation threshold. Liquidation orders of this size can hit the order book directly, and they’re often what fuels the long lower wick during a sharp drop.
$BTC $ETH $SOL