A trader identified as 0xc3ed was forcibly liquidated four times within 14 hours as Bitcoin moved higher, according to on-chain tracker Lookonchain. The liquidations wiped out a short position totaling 375.8 BTC, valued at about $32.55 million at the time cited in the update. Lookonchain said the position has now been fully cleared. The move was tied directly to Bitcoin’s rise, which left the trader’s bearish bet exposed over a relatively short period. The case stands out because of both the speed and the size of the liquidations, with four forced closures occurring in less than a day.
Crypto trader 0xc3ed was forcibly liquidated four times within 14 hours as Bitcoin rose, according to Lookonchain.
The wiped-out short position totaled 375.8 BTC, worth about $32.55 million, and has now been fully cleared.
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