BTC Whale Liquidated for $7 Million After Long Bet on Hyperliquid Amid Market Decline

On January 13th, COINOTAG reported a significant development in the cryptocurrency market following a downturn. According to LookIntoChain, a notable whale investor faced liquidation after taking a leveraged long position on Bitcoin (BTC) at 50x leverage on the Hyperliquid platform. This liquidation resulted in a staggering loss of approximately $7 million. The investor had maintained this position for over a month, during which they incurred more than $1 million in funding fees. This incident underscores the extreme risks associated with high leverage trading in the highly volatile crypto market, highlighting the critical importance of risk management for both retail and institutional investors alike.