Significant trading activity across major cryptocurrencies highlighted the precarious nature of high-leverage positions this week.
A trader holding an exceptionally large $400 million long position in Bitcoin (BTC) narrowly avoided liquidation during recent price swings. Despite averting a complete loss, the trader exited nearly their entire position at a loss of approximately $12 million.
Separately, an account associated with James Winn suffered substantial losses. This account held $40 million long positions each in Bitcoin (BTC) and the meme coin PEPE. Both positions were liquidated, reducing the account’s value to a mere $100,000.
In a notable recovery, trader HLwhale re-entered the market with a significant short position after a prior dispute with James Winn led to their liquidation. HLwhale deposited an additional $5 million capital and established a $115 million Bitcoin (BTC) short position starting at the $107,000 price level. This aggressive bet is currently showing a profit of roughly $4 million, nearly recouping HLwhale’s previous loss.