Investors have suffered huge losses due to the consecutive declines in Bitcoin and altcoins. While the last decline wiped out billions of dollars from the cryptocurrency market, a whale defied the decline but now risks being liquidated and losing millions of dollars.
According to Lookonchain’s post, the mega whale, one of the victims of the recent crash, opened a long position in Bitcoin and six altcoins but is facing an unrealized loss of $17.5 million.
Accordingly, this whale opened long positions in Bitcoin (BTC), Solana (SOL), HYPE, ONDO, HBAR, SUI and TRUMP at rates ranging from 3x to 20x.
But as the decline deepens, this whale now faces $17.5 million in unrealized losses.
However, the whale’s risk does not end there. According to the data, if Bitcoin continues to fall and the price drops to $74,000, the whale could lose a total of $25 million. Because, according to Lookonchain’s post, the whale’s perp equity is the total balance, so the loss risks reaching $25 million ($17.5 million + $7.4 million).
However, if the BTC price increases, liquidation will not occur and the whale will be able to cover his losses and make millions of dollars in profits.
*This is not investment advice.