Scary whale really dares to bet! 40x short on Bitcoin, 10x short on SPCX, worth $73.76 million, liquidation price: $62,071.8!


On June 26, according to Onchain Lens monitoring, a whale opened a combined short position worth $73.76 million: 1002.5 BTC (40x) and 89,695.7 SPCX shares (10x).
BTC liquidation price: $62,071.8;
SPCX liquidation price: $162.79.
Notably, the liquidation price of SPCX in this combined short position is as high as $162.79, while the current price is far below that. This means the position is not a hedge against a decline in SPCX spot, but rather a structural operation that uses highly leveraged, high-liquidation-price assets for "cross-collateralization" to amplify the BTC short position. Such strategies are very likely to trigger cascade liquidations when volatility increases. $SPCXB
{spot}(SPCXBUSDT)
BTC0.69%
SPCX2.12%
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