Four large crypto traders have suffered individual liquidations of more than $10 million each in the aftermath of Bitcoin falling below $69,000.<\/p>\n
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.<\/p>\n
According to the blockchain analytics account Lookonchain, a wallet identified as 0x6046 lost exposure<\/a> to 12,742 ETH worth approximately $25.2 million and 536.89 BTC valued at $38.77 million.<\/p>\n A second address, 0x01e2, which the analytics platform had earlier described as a \u201cgambler\u201d 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\u2019s price plunged below its November 2021 peak.<\/p>\n 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.<\/p>\n Other trading accounts also came under pressure, with a whale who had held<\/a> 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.<\/p>\n And it wasn\u2019t 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.<\/p>\n Indeed, at the time of writing, the world\u2019s 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.<\/p>\n 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<\/a> to hold the $69,000 level.<\/p>\n CoinGlass\u2019s 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.<\/p>\n 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.<\/p>\n The post Whale Alert: Four Traders Liquidated for More Than $10M Apiece<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251112","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251112"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251112"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251112\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Decline Triggers a Wider Leverage Wipeout<\/h2>\n