A certain crypto whale liquidates a long BTC position in a perpetual loan, incurring a loss of 14.02 million USD

GateNews

bitcoin news

Source: blockbeats

2026-03-20 02:55:32

BTC-2,47%

WBTC-2,94%

USDC0,01%

AAVE-2,71%

Gate News reports that on March 20, on-chain data shows that a whale engaged in a recurring long position on BTC today cut their losses and fully sold, incurring a loss of $14.02 million. Over the past year, this address used a leveraged recurring loan strategy by collateralizing WBTC to borrow USDC and continue buying WBTC, accumulating 742.8 WBTC at an average cost of approximately $89,137. Today, an hour ago, the whale sold the 742.8 WBTC through FalconX at a price of $70,266, retrieving 29.75 million USDC to repay the loan on Aave.

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