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BTC 
ETH The collapse of Bitcoin triggered a chain reaction, and the tragedy of giant whale leverage explosion occurred frequently.
In just a few days, the price of Bitcoin dropped sharply from US$87,000 to below US$81,000, dragging down the vast majority of the altcoin market. As market norm shows, highly leveraged positions have suffered the hardest hit, with excessive open interest exacerbating sharp price fluctuations.
On-chain data analysis platform Lookonchain pointed out that a number of large positions were damaged in the volatility, including an Ethereum (ETH) giant whale that lost nearly US$70 million, and AguilaTrades, who suffered losses on both sides of the long and short sides.
US$70 million long ETH position cleared
The first focus is on the most eye-catching whale in this market crash. An anonymous trader held a huge long position of 28,716 ETH, which was completely liquidated during the plunge, with a value equivalent to US$69.69 million. What is even more remarkable is that the giant whale has not given up its bullish strategy.
According to online data, the trader subsequently opened a new multiple ETH order and currently holds 78,955 highly leveraged positions in ETH (worth more than US$195 million). Its new strong flat price is below $2,300. It is worth noting that the Ethereum price had previously dropped from above $2,700 to $2,400, then rebounded by about $1,000, and is now stable at around $2,500.
Another well-known trader, Machi Big Brother, lost $8.44 million in the past week, bringing his account net worth below $1 million. As of press time, he still held 9,950 ETH long positions worth more than US$24.6 million, with a strong flat price of US$2,431.
AguilaTrades 'two-way loss experience
Lookonchain also updated its trading dynamics on AguilaTrades. After more than half a year of silence, the trader re-entered the market and opened multiple BTC orders, but was also not spared the market crash and finally closed the position with a loss of US$331,000.
Subsequently, he changed strategy and opened 200 short orders for BTC with a leverage multiple of 40 times and a total value of approximately US$16.35 million. However, the market trend reversed again. Shortly after he turned bearish, his short positions were hit hard, leaving him on the wrong side of both market swings. The latest analysis shows that his cumulative loss for the day reached US$545,000.
AguilaTrades(@AguilaTrades) returned to the trading market after a six-month period of inactivity, but suffered a strong draw in one day and lost US$545,000. What a pity!
