BTC falls below 60,000 dollars, ETH drops below 1,600 dollars, are crypto whales supporting the market?

Original｜Odaily Planet Daily (@OdailyChina)

Author｜Wenser (@wenser2010)

This morning, BTC briefly dropped below 60,000 USD, currently reported at around 60,800 USD; ETH briefly dropped below 1,600 USD, currently reported at around 1,620 USD; SOL briefly dropped below 65 USD, currently reported at around 67 USD. According to Coinglass data, the liquidation scale in the past 24 hours was 971 million USD, of which BTC liquidation was nearly 400 million USD and ETH liquidation was nearly 220 million USD; the funds for long liquidation reached 785 million USD, and the funds for short liquidation reached 186 million USD.

Behind this new market low after nearly 20 months is the "bloody chips" left by crypto whales' long positions— the market is filled with despair, and the corpses of longs are numerous.

Hyperliquid's Largest Long: 120,000 ETH Long Position, Unrealized Loss Exceeds 77 Million USD

The biggest victims of the market drop are currently Hyperliquid platform's largest longs.

On June 23, seven of its addresses opened long positions worth 415 million USD, with an unrealized loss peaking at 91.46 million USD, close to 100 million USD.

Currently, it still holds 120,000 ETH in long positions, with an unrealized loss exceeding 77 million USD. This morning, it urgently added 8 million USD in margin to ensure that the liquidation price remains below 1,200 USD, which is relatively healthy; and it still holds over 6 million USD in USDC on-chain that can be used as margin.

Main addresses are as follows:

0xa875890465da20062bcf3b024bf7d54e69c725a8 (holding 30,000 ETH 20x long position, unrealized loss 18.8 million USD);

0xfd423284f6a9c73a2a3d53cab8921d6533533d97 (holding 10,000 ETH 20x long position, unrealized loss 6.64 million USD);

0x6c8512516ce5669d35113a11ca8b8de322fd84f6 (holding 40,000 ETH 20x long position, unrealized loss 25.9 million USD);

0xa5b0edf6b55128e0ddae8e51ac538c3188401d41 (holding 40,000 ETH 15x long position, unrealized loss 25.93 million USD).

"Loyal Long E Guardian" Ma Ji: Single Address Cumulative Loss Exceeds 33.75 Million USD

As the most steadfast and frequently active "loyal E guardian" in the market, Ma Ji (Huang Li Cheng) is clearly devoted to ETH long positions.

On June 23, he was liquidated 7 times within 10 hours on Hyperliquid platform, yet chose to continue going long on ETH.

This morning, his 25x ETH long was once again liquidated, resulting in a loss exceeding 1.81 million USD; the cumulative loss for that address now exceeds 33.75 million USD. Currently, he has opened a new 25x ETH long position, but the size is only 920 ETH, worth about 1.5 million USD, currently with unrealized profit of about 20,000 USD, and the liquidation price is currently reported around 1,591 USD.

View address: https://hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872

"10·11 Insider Whale" Still Performing: Unrealized Loss Exceeds 18.4 Million USD

As the "10·11 insider whale" who took advantage of the "10·11" crash opportunity last year, Garret Jin is still highly active in the Hyperliquid market. With this BTC drop, his BTC 5x long position also saw a wave of unrealized losses.

Currently, his BTC long position is 1,270 BTC, with an entry average price of 76,117 USD, unrealized loss around 18.4 million USD, with liquidation price at 16,964 USD, which is relatively healthy.

Address: 0x92ea19eceb7a8de0f50978a1583a5d8b018050e9

Professional ETH Trader with High Win Rate Suffers: Actual Loss Close to 2.9 Million USD

In the ever-volatile crypto market, some choose to focus on leveraged ETH long and short transactions.

This Hyperliquid whale is such a trader: since June, he has traded ETH 15 times, prior cumulative profit of 4.29 million USD.

On June 23, this whale opened a 21,000 ETH 18x leverage long at an average price of 1,728.5 USD, initially with an unrealized profit exceeding 30,000 USD, but as the market fell, it turned into a loss. On the evening of June 24, his 18x leverage long once suffered an unrealized loss of 1.7 million USD.

This morning, as ETH fell below 1,600 USD, he quickly closed the long position at 1,594 USD, ultimately incurring a loss exceeding 2.85 million USD.

Subsequently, perhaps out of a sense of disbelief or thinking ETH would rebound quickly after falling below 1,600 USD, that address then placed 4 orders to open 7,794 ETH long positions, but all were closed within a minute, ending this ETH long transaction with a loss exceeding 40,000 USD.

Finally, that address transferred out 350,000 USD in USDC this morning, leaving with a net profit on paper of 1.038 million USD.

Specific address: 0xa2e81e888f14a757bbad012ea9b193e7ab93f1468

Hyperliquid Short Whale Suspected of Dumping ETH: Actual Loss Exceeds 2.62 Million USD

A certain whale on Hyperliquid previously profited 13.68 million USD by shorting 16 altcoins. This morning, as the crypto market rebounded, he transferred 6,855.13 ETH (worth 11.02 million USD) bought at an average price of 1,881 USD to Binance, suspected of selling. Ultimately, the loss for that position was locked in at around 2.625 million USD. It is evident that contract whales have become increasingly disappointed with ETH price performance.

Address: 0xcD40532686B94aBc88b06B9705AAcBc14c8364D6

Whale Goes Long BTC, XRP with 20x Leverage: Unrealized Loss Exceeds 4 Million USD

On June 23, a certain whale opened a long position on 27.9 million XRP (worth 30.9 million USD) with 20x leverage, and additionally held 809.9 BTC 20x leverage long position (worth 50.6 million USD), at that time with an unrealized loss exceeding 2.6 million USD.

As BTC price dropped from 65,000 USD to its current level, the unrealized loss for its 20x long position expanded to nearly 2.9 million USD; its 20x XRP long position also reached an unrealized loss scale of 1.2 million USD with the price changes. The total unrealized loss exceeds 4 million USD.

Observe address: https://hyperbot.network/trader/0xf79C163305387F940f49999Ff2AbFf5410129BbD

As of writing, BTC has slightly rebounded to above 61,500 USD, ETH has rebounded to about 1,650 USD, and SOL has rebounded close to 70 USD.

But for these crypto whales mentioned above, the strength of the rebound is still minimal, and the distance between unrealized losses and actual losses fluctuates with price changes.

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