Event Recap: 4 Liquidations Wipe Out All Profits
On July 2, on-chain monitoring tool HyperInsight reported that whale address 'sat0shi777' suffered four consecutive forced liquidations as the price of Ethereum jumped. The address had accumulated $6.75 million in floating profits from over 100 trades, boasting a 90% win rate. However, this time it opened a massive $90 million notional short position on ETH. As the market rebounded, bullish momentum pushed ETH to $1,707, triggering a cascade of liquidations.
After four liquidations, the account not only lost all its previous gains but also turned into a loss of more than $1.78 million. At press time, the address still holds a $38 million short position with a liquidation price set at $1,755.75. This means that if ETH continues to rise by approximately 2.9%, the remaining position will also face forced liquidation.
Risk Warning Behind High Win Rate
The case of 'sat0shi777' once again highlights the core risk of leveraged trading: even with an extremely high win rate, a single large losing trade can erase all gains. The address's prior 90% win rate suggests its strategy worked in most market conditions, but when a heavily weighted short position goes against the short-term trend, leverage magnifies losses.
On-chain data shows that the whale's single trade size far exceeds typical retail participants. A $90 million short position accounts for a significant portion of Ethereum perpetual swap open interest. The liquidation process itself acted as 'fuel' for the price movement, amplifying the short squeeze effect.
Currently, ETH is only $48.75 away from the liquidation price. If the market maintains its bullish momentum, the address could face further liquidations. This event serves as a reminder that publicly visible high-win-rate addresses do not guarantee safety; proper position sizing and stop-loss settings remain essential for survival in leveraged markets.
