The terrifying whale really dares to bet big — shorting Bitcoin at 40x and SPCX at 10x, worth $73.76 million, liquidation price: $62,071.8!



On June 26, monitored by Onchain Lens, a whale opened a combined short position worth $73.76 million: 1,002.5 BTC (40x) and 89,695.7 shares of SPCX (10x).

BTC liquidation price: $62,071.8;

SPCX liquidation price: $162.79.

It is worth noting that the liquidation price of SPCX in this combined short is as high as $162.79, while the current price is far below this. This means that the position is not a hedge against a decline in SPCX spot, but rather a structural operation that uses high-leverage, high-liquidation-price assets for "cross-collateralization" to amplify the BTC short position. Such strategies can easily trigger cascading liquidations during periods of increased volatility.$SPCXB
{spot}(SPCXBUSDT)
BTC0.34%
SPCX1.79%
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