Cryptocurrency Market Decline

Investors have suffered huge losses due to consecutive declines in Bitcoin and altcoins. The latest downturn wiped out billions from the cryptocurrency market. A whale, however, has defied this trend but now risks liquidation and potential losses amounting to millions.

According to a post by Lookonchain, this mega whale opened long positions in Bitcoin and six altcoins, but is currently facing an unrealized loss of $17.5 million.

The whale’s positions include:
– Bitcoin (BTC)
– Solana (SOL)
– HYPE
– ONDO
– HBAR
– SUI
– TRUMP

These positions were opened at leverage rates ranging from 3x to 20x. As the market continues to decline, the unrealized losses have also deepened.

If Bitcoin’s price drops to $74,000, the whale could face total losses of $25 million, as his perp equity reflects the overall balance, potentially accumulating another $7.4 million in losses. Yet, if Bitcoin’s price rebounds, liquidation can be avoided, allowing the whale to recover losses and possibly profit significantly.

> As the market drops, the whale has lost $17.5M from going long on Bitcoin, Solana, HYPE, ONDO, HBAR, SUI, and TRUMP.
> When Bitcoin drops to $74,571, liquidation may occur.
> — Lookonchain (@lookonchain) February 27, 2025

This is not investment advice.