A cryptocurrency gambler whale’s large position in Bitcoin (BTC) is at risk of liquidation.
According to data provided by on-chain analytics platform Lookonchain, a whale’s Bitcoin position is very close to being liquidated. The health ratio of the whale’s 488.45 BTC position worth $26.47 million opened on the decentralized finance platform Compound has fallen to 1.07.
If the Bitcoin price drops to $50,429 and the whale doesn’t add new liquidity, $26.47 million will be gone.
The same whale had three major liquidations during the declines in 2022. During those liquidations, it lost 74.26 Bitcoins worth $37.92 million.
According to CoinGecko data, Bitcoin, which has lost 1% in value in the last 24 hours, is traded at $53,124 at the time of writing.
Stay tuned for new information.$BTC