At the beginning of July, a high-leverage liquidation storm erupted again! On-chain data platform OnchainLens pointed out on the 5th that the trader @qwatio, known as the "insider whale" by the community, has been partially liquidated 10 times in a row, with cumulative losses exceeding $14 million.
Despite this, he still placed a 40x leveraged short position on Bitcoin (BTC), amounting to approximately $55.85 million, and simultaneously opened a 25x leveraged short position on Ethereum (ETH) worth $11.05 million, making his intense operations an immediate market focus.
Adding positions after consecutive liquidations
Observing on-chain addresses reveals that @qwatio continuously added margin and re-established positions after multiple forced liquidations. Other large leveraged players also expanded their BTC and ETH short positions, generating millions of dollars in losses in the short term, thoroughly demonstrating the destructive power of high-leverage strategies during range-bound periods.
Currently, Bitcoin's price is oscillating between the $100,000 support and $110,000 resistance levels. If the price breaks out in a significant direction, it could trigger a liquidation tsunami among high-leverage traders.
@qwatio's ability to add positions multiple times indicates his abundant liquidity, but consecutive liquidations still caused him substantial losses. The platform advises all readers that in a highly volatile cryptocurrency market, rational analysis and moderate leverage are the keys to long-term success.
