Whale's Bold Long Bet Turns Sour Amid Market Reversal
A prominent on-chain trader has exited a massive long position in Bitcoin, absorbing a $3.8 million loss after liquidating 3,846 BTC. The move marks one of the largest failed bullish bets in recent market activity, highlighting the risks of leveraged positions during volatile swings.
Aggressive Accumulation at Peak Levels
Data shows the investor transferred 35.5 million USDC to a major derivatives exchange yesterday, signaling strong conviction. Over several hours, they steadily increased exposure, reaching a peak long position of 3,846 BTC by 2:00 AM today, with an average entry price near $92,096.
Sudden Downturn Triggers Stop-Out
However, as Bitcoin failed to break past key resistance and reversed sharply, the position slipped into deep negative territory. Within the last hour, automated risk controls triggered a full unwind of the position, locking in a $3.8M deficit.
- Position size: 3,846 BTC (~$350M notional)
- Entry time: Around 2:00 AM today
- Average entry: $92,096
- Capital deployed: 35.5M USDC
- Final outcome: Full stop-out, $3.8M loss
This incident serves as a stark reminder that even well-funded players are vulnerable to rapid market shifts. As BTC volatility rises, the actions of large holders will remain a critical factor shaping near-term price direction.