Lookonchain said trader wallet 0x049b opened 20x long positions in Ethereum and Bitcoin with a combined notional value of about $80.08 million. The positions include 17,410 ETH worth $40.07 million and 493.43 BTC worth $40.01 million. Lookonchain said the ETH liquidation price is $2,227.81 and the BTC liquidation price is $78,009.69. In crypto derivatives markets, 20x leverage magnifies both potential gains and losses, making liquidation thresholds a key risk measure for traders.