A Bitcoin whale opened a $45M 40x long that liquidates at $105K

Description

A whale just placed a massive Bitcoin bet, $45 million worth, with 40x leverage, according to data from Coinglass. The trade was opened with a liquidation line at $105,000, and if Bitcoin hits $125,000, it’ll trigger $5.6 billion in short liquidations, most of which are clustered near $121,000. At press time, Bitcoin is trading just above $114,000, which puts the whale’s stop-loss level only a few thousand dollars away. But while some short-term traders are sweating it out, long-term holders are...