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WHALE GOES "BELLY UP" ON BTC LEVERAGE – LOSES OVER $14 MILLION 💀
A very typical case of overleveraging in a sideways-downtrend market.
This whale didn't FOMO buy at the top in one go, but systematically built an extremely methodical position:
- Used WBTC as collateral
- Borrowed USDC → bought more WBTC → repeated (leverage loop)
- Pushed position up to 742.8 WBTC, cost basis ~89k
In the end:
- Cut losses entirely at ~70k
- Lost over $14 million USD
- Had to repay Aave to exit the position
The whale had to cut losses → meaning:
Selling pressure is not over yet
The market still has potential to shake out more