A whale hit the stop-loss! A loss of nearly 5 million on an 184 million BTC position—has the market maker started to turn around? The market just pulled off a textbook-style liquidation 12 hours ago. The leveraged whale in the contract said it outright: “set 10 big targets.” It clearly stated that the BTC stop-loss level is $73,500—once it hits, it’s executed. What happened then? In the early hours, driven by the news cycle (U.S.-Iran negotiations), BTC instantly spiked to $73,790. If he strictly followed the rules—2567.49 BTC (about $184 million) was already stopped out, resulting in a loss of roughly $4.994 million.