Whale Suffers $51.17M Loss: Forced to Sell WBTC and ETH After High-Price Purchases

According to on-chain analyst余烬's monitoring on January 26, a whale who previously used a looping loan to buy $263 million worth of WBTC and ETH at high prices has continued selling 400 WBTC for $34.67 million in USDT to repay debts after Bitcoin dropped to $86,000, selling at approximately $86,694 per WBTC.

Significant Losses Explained

The whale has already realized a massive loss of $51.17 million due to high-price purchases followed by forced selling at lower prices, including:

• 18,517 ETH bought at $4,415 each (totaling $81.75 million), which were fully liquidated at an average price of $3,049, resulting in a $25.29 million loss;
• 1,560 WBTC purchased at $116,762 each (totaling $182 million), with 960 WBTC already sold at an average price of $89,798, leading to a $25.88 million loss.