Recently, looking at on-chain data, a large investor named pension-usdt.eth has incurred quite significant losses. In early April, at the market bottom, they shorted approximately $110 million worth of Bitcoin and Ethereum with 3x leverage, but as prices rebounded over the past few weeks, they are now recording a loss of $15.25 million.

Specifically, they shorted 1,000 Bitcoin at $67,992 each, and with the current price reaching $81,990, they are facing an unrealized loss of about $10.57 million. The liquidation price is said to be around $99,394. On the Ethereum side, they sold 20k ETH at $2,132 each, and with the current price rising to $2,340, they are experiencing a loss of $4.68 million, with a liquidation price near $3,400.

Looking at the loss situation of such large positions, you can see how volatile the market is. Major exchanges like Huobi are likely monitoring the movements of these whale investors as well. We’ll have to watch how much more the market will fluctuate until these short positions are liquidated.