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Bitcoin’s Rally to New All-Time High Above $106K Liquidates This Massive Whale
Bitcoin has made a remarkable comeback, breaking through the previous record and reaching an all-time high of over $106,000. The swift recovery took just over 10 days to reassert itself in the market, with a significant impact on trading positions. In fact, the sudden surge led to liquidations exceeding $300 million within a short period of 24 hours.
Notable among these losses is a colossal single-position wipeout worth an astonishing $19.86 million. This massive whale’s fortunes took a drastic turn as they suffered enormous losses due to their ill-timed bet on Bitcoin’s price action. The transaction occurred on the popular exchange Binance, where this trader had placed a large bet against the crypto’s value.
The data from CoinGlass reveals that nearly 100,000 traders have been liquidated in just one day, emphasizing the gravity of this event. It is essential for investors to exercise extreme caution when entering over-leveraged positions in this extremely volatile environment.
Source: cryptopotato.com
