Four large crypto traders have suffered individual liquidations of more than $10 million each in the aftermath of Bitcoin falling below $69,000.
The losses are part of a wider derivatives market rout that saw more than $1.6 billion liquidated in 24 hours, with leveraged bullish bets taking the biggest hits.
Four Crypto Whales Lose More Than $143M in Liquidations
According to the blockchain analytics account Lookonchain, a wallet identified as 0x6046 lost exposure to 12,742 ETH worth approximately $25.2 million and 536.89 BTC valued at $38.77 million.
A second address, 0x01e2, which the analytics platform had earlier described as a “gambler” after it got hit by six liquidations in 12 hours covering 404.86 BTC ($28.9 million), had another 511 BTC worth $36.4 million liquidated when the asset’s price plunged below its November 2021 peak.
The third wallet lost a 357.09 BTC position valued at just over $25 million, while the fourth, 0x4a20, which suffered the least damage among the observed whales, had positions in Solana ($9 million), Bitcoin ($5.85 million), and Ethereum ($3.52 million), all wrecked. In total, the four heavy hitters were washed for about $143.89 million.
Other trading accounts also came under pressure, with a whale who had held two long positions, the first with 1,236 BTC going for just over $102 million and the second with 15,928 ETH priced at $38.67 million, which came to more than $140 million, getting fully liquidated in the last two days and ending up losing more than $17 million.
And it wasn’t just traders looking over their shoulders. Lookonchain also identified an address said to belong to a hacker that apparently panicked and sold 1,500 ETH it had received from Tornado Cash at $1,988 in fear of prices going even lower.
Indeed, at the time of writing, the world’s second-largest cryptocurrency was changing hands just a few bucks above $1,900, having dipped by 5% in 24 hours and almost 13% in 7 days.
Bitcoin’s Decline Triggers a Wider Leverage Wipeout
The whale losses chronicled by Lookonchain coincided with an increasingly difficult session for crypto markets, with market cap dropping by nearly 4%, per CoinGecko data, as BTC struggled to hold the $69,000 level.
CoinGlass’s liquidation tracker recorded approximately $1.64 billion in liquidations within 24 hours, with long positions accounting for $1.46 billion or 88% of the total, and shorts taking nearly $183 million worth of hits.
Of the aforementioned total, $905 million fell on BTC traders, with 96% of that involving long plays, while Ethereum recorded $285 million, of which 90% came from bullish positions. Furthermore, the pressure went beyond derivatives, as Bitcoin recorded approximately $671 million in net spot taker selling, while US spot Bitcoin ETFs saw $47 million flow out on November 12.
The post Whale Alert: Four Traders Liquidated for More Than $10M Apiece appeared first on CryptoPotato.
One wallet’s liquidation records included more than 12,700 ETH and 536 BTC, exposing the scale of leveraged positions held by whales. AA News, Crypto News, Locals, social, Bitcoin (BTC) Price, Ethereum (ETH) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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