Whale Loses $111M on Bitcoin Bet as Price Skyrockets Near All-Time High

A major Bitcoin trader has suffered a staggering $111 million liquidation on the Hyperliquid platform after betting against the market. The trader had placed a series of significant short positions, expecting Bitcoin’s price to drop, but the move backfired as the cryptocurrency surged instead.

According to data from Lookonchain, the whale opened overleveraged shorts when Bitcoin was trading just above $101,000. The prices ranged between -3.41 million to -3.51 million, resulting in a liquidation of positions in a run-up in prices.

The aggressive increase in the price of Bitcoin to 104,500 dollars to 106,000 dollars triggered the liquidation of the whale’s positions. This sharp boom was not cheap, and they lost back what they made and multiplied their losses as a result of the large amount of leverage that was at hand.

According to CoinGecko, Bitcoin is currently selling at 105,120 after recording a peak of 105,927 earlier this morning. The crypto has gained 3.6 percent over the last day and is only 6 percent behind its all-time high of $111,814 last month.

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Bitcoin Surge Forces Out Short Sellers as Market Edges Toward Record Levels

The whale’s loss highlights the dangers of betting against Bitcoin in a volatile market, especially with excessive leverage. As the cryptocurrency approached key resistance levels, bullish pressure forced short sellers to exit, resulting in sudden liquidations like this one.

The intensity of the recent rally took many traders by surprise as Bitcoin inches closer to its all-time high, shifting market sentiment and boosting bull confidence.

When there are big liquidations, this tends to generate additional price movement, which is a driver of volatility. This specific episode represents why huge wins can turn to losses fast in high-stakes crypto trading.

As Bitcoin approaches moving above earlier records, analysts are keen on monitoring possible signs of further upward movements or sudden retracements. The recent liquidation supports the importance of approaching leveraged positions with care in rapidly changing market conditions.

The $111 million loss on Hyperliquid serves as a cautionary tale for traders amid Bitcoin’s rise. With the cryptocurrency now within striking distance of a new all-time high, risk management remains critical.

Also Read: Here’s Why Crypto is Surging Today

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