Last week, cryptocurrency trader James Win, who had established a $1 billion Bitcoin (BTC) long position, was liquidated for $118 million (approximately 161.6 billion won) due to a sharp price drop.
According to Arkham Intelligence data, Win has had a total of 4 positions liquidated, amounting to 1,134 BTC ($118.8 million). Currently, he has an unrealized loss of $4.7 million on an unsettled position with 40x leverage on the decentralized exchange (DEX) Hyperliquid.
Over the past week, Win expanded his 40x leveraged Bitcoin long position from $390 million to $1.1 billion. When Bitcoin reached an all-time high of $111,970 on May 22nd, his unrealized profit grew to $39 million.
On May 24th, he increased his betting size to $1.25 billion while Bitcoin was trading between $108,000 and $109,000. On-chain data suggested further potential for Bitcoin's rise, but macroeconomic changes cut short the upward trend.
Win's positions were liquidated sequentially when Bitcoin reached $106,330, $104,950, $104,150, and $104,620. Currently, Bitcoin is trading at $105,093, down 2.5% in the past 24 hours.
Win commented on social media X, saying, "This proved how corrupt the market is" and "It's better to store Bitcoin in a cold wallet than follow such an investment strategy."
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