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Whale Sells 400 WBTC for $34.67M at $86,694, Realizing $51.17M Total Loss

A whale liquidated 400 WBTC for 34.67 million USDT at $86,694 on January 26 after Bitcoin dropped to $86,000, on-chain analyst Yu Jin reports. The address has realized a total loss of $51.17 million from leveraged positions, including $25.29 million on 18,517 ETH purchased at $4,415 and sold at an average of $3,049, and $25.88 million on 1,560 WBTC bought at $116,762 with 960 WBTC sold at an average of $89,798. The whale had previously used looping loans to accumulate $263 million in WBTC and ETH.
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WBTC
WBTC-1.22%
ETH
ETH-2.31%
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