🚨 More than $10 million in BTC is ‘trapped,’ with liquidation looming!
A whale is holding a leveraged Bitcoin long position with a notional value of ~$10.33 million at 40x leverage. It’s nerve-racking to see they’re sitting on an unrealized loss of ~$1 million. Wallet address 0x0c4a…1b19 is under immense pressure.
The critical point is that the liquidation price (the price at which the position is automatically closed when the margin runs out) is just ~4.3% below the current price, at ~$70,656.66. That means Bitcoin only needs to dip a little further for this position to get ‘wiped out.’
The $10.33 million figure is only the notional value; the actual margin (the amount deposited) is just around ~$258.3K. Liquidation pressure is weighing heavily on the longs. If Bitcoin keeps falling, a liquidation sweep could occur. Do you think this whale will cut their losses or hold on until the end?
For informational purposes only, not investment advice. DYOR.
#BTC #BitcoinFiveWeeklyLosses $BTC
A whale is holding a leveraged Bitcoin long position with a notional value of ~$10.33 million at 40x leverage. It’s nerve-racking to see they’re sitting on an unrealized loss of ~$1 million. Wallet address 0x0c4a…1b19 is under immense pressure.
The critical point is that the liquidation price (the price at which the position is automatically closed when the margin runs out) is just ~4.3% below the current price, at ~$70,656.66. That means Bitcoin only needs to dip a little further for this position to get ‘wiped out.’
The $10.33 million figure is only the notional value; the actual margin (the amount deposited) is just around ~$258.3K. Liquidation pressure is weighing heavily on the longs. If Bitcoin keeps falling, a liquidation sweep could occur. Do you think this whale will cut their losses or hold on until the end?
For informational purposes only, not investment advice. DYOR.
#BTC #BitcoinFiveWeeklyLosses $BTC
