Whale Wallet Suffers Six Bitcoin Short Liquidations Worth 70 BTC
According to Hyperinsight, the 0x2fc address repeatedly reopened 40x leveraged Bitcoin short positions after each liquidation on April 14, leaving the account with about $7,700.
BTC
Summary
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Terms & Concepts
Short position: A trade that bets an asset’s price will fall, allowing the trader to profit if the market declines.
Liquidation: The forced closure of a leveraged trading position when losses exceed margin requirements on an exchange or trading platform.
40x leverage: Borrowed exposure that multiplies a trader’s position size by 40, increasing both potential gains and the risk of rapid liquidation.