In a nutshell: A whale’s entire $493 million long position was liquidated, resulting in a loss of $68.59 million.
This bearish news may prompt some funds to exit for now. Whether they return later depends on market conditions. I’ll compare whale wallet inflows and outflows before and after the news.
$BTC is currently at 71416.79, down 3.01% over 24 hours. I’ll add it to the watchlist for now.