BTC's largest long position was liquidated 24 times in 24 hours, previously betting long on the Imam Mahdi assassination event for the end of the war.

BlockBeats News, March 2nd, according to Hyperinsight monitoring, the largest former BTC long position address (0xdf1) has suffered another 4 liquidations in the past 1 hour, with a total liquidation value of approximately $3.9 million. So far, this address has been liquidated 24 times in the past 24 hours, with the account funds plummeting from yesterday's high of approximately $2.66 million to only $140,000, a withdrawal of over 94.7%. The next liquidation price for its remaining BTC position is at $65,370.

On the morning of March 1st, when the official announcement of the assassination of Iran's Supreme Leader Khamenei was made, this address quickly leveraged up to 40x long BTC, perhaps betting on the imminent end of the war and a market recovery. Its BTC long position once reached 1,000 coins (approximately $66.83 million), becoming the largest on-chain BTC long at the time, with a liquidation price of around $66,560.

However, the funds for this heavy bet did not come from additional margin but from the unrealized gains of a SOL long position. On February 28th, this address deposited about $470,000 into Hyperliquid, using a high leverage long position to bottom-fish SOL at an average price of $78. The next day, SOL rose to $88, and its principal more than quintupled. These unrealized gains supported its BTC gamble but also amplified the liquidation risk for both positions when the price declined.