Crypto Whale Liquidation Event
On January 22, the cryptocurrency market experienced significant volatility. A whale account heavily shorting Bitcoin (BTC) and Ethereum (ETH) faced massive liquidations totaling $199 million. This included a single liquidation of $40.22 million, marking the largest single collapse in the past 24 hours.
Short Selling and Liquidation Impact
Prior to the event, the account had significantly shorted ETH, XRP, and several other cryptocurrencies, with total holdings approaching $500 million. It became the largest short position for multiple coins on the blockchain. The use of a shared margin mode across positions significantly lowered the liquidation prices for several coins. Around 3:30 AM, the account faced dozens of liquidations across five different coin positions.
Detailed Liquidation and Holding Data
- BTC Shorts: Liquidated 400 BTC, approximately $36.04 million, with current holdings around $145 million and a liquidation price at $90,990.
- ETH Shorts: Largest single liquidation was 13,288 ETH, totaling 40,640 ETH, approximately $123 million, with current holdings around $96.1 million and a liquidation price at $3,073.
- PEPE Shorts: Liquidated around $7.41 million, with current holdings approximately $13.3 million and a liquidation price at $0.00579.
- XRP Shorts: Liquidated 14.88 million XRP, approximately $29.07 million, completely liquidated.
- HYPE Shorts: Liquidated 185,700 HYPE, approximately $4.01 million, with current holdings around $13.11 million and a liquidation price at $24.64.
Subsequent Actions and Market Impact
In the past few hours, the whale has again increased short positions in several coins. Analysts suggest that the liquidation may have short-term effects on market sentiment and could trigger chain reactions.