On August 12, Lookonchain's on-chain monitoring detected a liquidation risk facing a large Bitcoin short position. The position was opened by the trader known as 0xff84 and held 1,793 BTC, worth roughly $114.4 million. As the price of Bitcoin moved higher, the short position came dangerously close to the liquidation threshold. Instead of waiting for a forced liquidation, the trader chose to close a portion of the short in advance. After the reduction, the remaining short position is 1,543 BTC, with a value of about $98.97 million. The change represents a cut of 250 BTC, or some $15.43 million in notional value, which is around 13.9% of the original short. Lookonchain also updated the liquidation price for the remaining position, which is now set at $64,225.35, replacing the earlier level. The monitoring data shows that the whale still holds a substantial short exposure after the trimming. The partial close helped the trader avoid being liquidated during the BTC price advance, according to Lookonchain's data. Despite the cut, the trade remains active with a large notional value.
On August 12, Lookonchain's on-chain monitoring flagged a liquidation risk for a large BTC short position. The position was held by the trader behind the address 0xff84 and consisted of 1,793 BTC, worth roughly $114.4 million. As the price of Bitcoin rose, the short came dangerously close to its liquidation threshold. The trader responded by closing a portion of the short ahead of time, which kept the position from being forcibly liquidated.
After the reduction, the whale still holds 1,543 BTC short, valued at about $98.97 million. That means 250 BTC, worth around $15.43 million, were trimmed from the position. Lookonchain notes that the remaining short now has a new liquidation price of $64,225.35.
The monitoring data, shared on August 12, shows the trader remains substantially short BTC despite the de-risking move. The partial close was a preemptive step taken as the market moved against the position.
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