A Bitcoin whale on the Hyperliquid exchange has suffered significant losses of $7 million after holding a long position on Bitcoin for over a month. The losses were a result of the market's downturn and the high leverage used in the trade, highlighting the risks associated with large, leveraged positions in volatile market conditions. The whale entered the market with a $64.08 million value and bought 700.15 BTC at an entry price of $91,522.93. However, Bitcoin's price has since dropped, leading to a sharp decrease in the position's value and a staggering unrealized loss of $7.1 million. The whale has also accumulated over $1 million in funding fees, further deepening the losses. With the liquidation price for the trade standing at $68,153.88, the whale faces the risk of liquidation if the market continues its downward trajectory. This incident serves as a cautionary tale on the perils of overleveraged trades in a volatile market and highlights the importance of risk management.



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