A Leveraged Long Whale of a Bitcoin Liquidation Event, Resulting in a $14.02 Million Loss

BlockBeats News, March 20th, according to on-chain data analyst Yu Jin, a whale that was long on BTC through a leveraged loan liquidated their position, realizing a loss of $14.02 million.

It is reported that this address, over the past year, leveraged a collateralized WBTC loan to borrow USDC to further buy WBTC in a loop, going long with 742.8 WBTC at an average cost of around $89,137.

Today, one hour ago, they liquidated their 742.8 WBTC via FalconX at a price of $70,266, reclaiming 29.75 million USDC to repay their loan on Aave.