Highly leveraged BTC address records 24 liquidations in 24 hours, losing 94.7% of funds

According to monitoring by blockchain analysis platforms like Hyperinsight and reported by BlockBeats, a major investor faced a devastating sequence of liquidations. The address in question (0xdf1), previously considered one of the largest BTC buyers, now accumulated 24 consecutive liquidations within just 24 hours. The investor’s assets plummeted from approximately $2.66 million to just $140,000—a decline of over 94.7%.

A highly risky bet on BTC after geopolitical news

On March 1st, around 10:00 AM, following the official announcement of the assassination of Iran’s Supreme Leader Khamenei, this address opened a massive long position in BTC with 40x leverage. The strategy reflected an optimistic bet on the end of geopolitical conflicts and a market recovery in cryptocurrencies. At its peak, the position reached 1,000 BTC (worth about $66.83 million at that time), becoming the largest long position in BTC on the network at that moment. The liquidation price was set around $66,560.

In the past few hours, four additional liquidations occurred, totaling approximately $3.9 million in volume liquidated during this period alone. The next liquidation level for the remaining BTC balance is set at $65,370, leaving the investor in a highly vulnerable position.

Unrealized profits in SOL turn into cascading losses in BTC

The funds for this bold bet did not come from fresh capital injection but from unrealized gains accumulated in long positions of Solana (SOL). On February 28th, the address deposited about $470,000 into the Hyperliquid platform, buying SOL with significant leverage at an average price of $78. The next day, SOL surged to $88, multiplying the initial capital more than five times through unrealized profits.

This initial success in SOL encouraged a highly aggressive strategy in BTC. However, the same leverage that amplified gains in SOL now also amplifies risks in both positions simultaneously. Any price drop in either asset exposes the investor to cascading liquidations—exactly the scenario that materialized.

The lesson on extreme leverage and risk management

This case illustrates a fundamental risk of trading with extreme leverage: losses multiply as quickly as gains. The address experienced 24 liquidations in 24 hours, signaling that each price drop automatically triggered new liquidations as prices hit successive margin levels.

The situation also highlights how unrealized profits can create a false sense of security, leading investors to take on highly disproportionate risks in other positions. The geopolitical bet on BTC, although based on market logic, lacked proper protection against short-term volatility—an common mistake among traders who confuse confidence in direction with risk protection.