Recently, a significant liquidation event occurred on the trading platform Hyperliquid related to Bitcoin's price drop.
Liquidation Event on Hyperliquid
According to Arkham Intelligence, following the drop in Bitcoin's price, a liquidation occurred on Hyperliquid. This event has drawn attention from many traders and analysts within the cryptocurrency space.
James Wynn's Losses
Well-known trader James Wynn experienced the wiping out of all his long positions after Bitcoin's price decrease. The total value of his liquidated positions stood at approximately $39.3 million. The last liquidation event occurred after the price of the leading cryptocurrency dipped to $103,266. Wynn has now been liquidated three times in a row. Prior to his positions being wiped out, he recorded an unrealized profit and loss of -$1.13 million. Ultimately, he exited all his positions with a lifetime loss of -$20.5 million.
Current Bitcoin Price
According to CoinGecko, Bitcoin is currently trading at $103,465.
James Wynn's liquidation event on Hyperliquid illustrates the high risks associated with trading on derivatives platforms, especially under market volatility conditions.
