Data: A certain revolving loan has gone long on BTC, with a whale liquidating positions, realizing a loss of 14.02 million USD

According to on-chain data analyst Yu Jin's monitoring, a whale that was long on BTC through a circular loan has liquidated its position, realizing a loss of 14.02 million dollars.

It is reported that this address has leveraged longed 742.8 WBTC over the past year by using WBTC as collateral to borrow USDC and continue buying WBTC. The average cost price was about 89,137 dollars. An hour ago, he liquidated 742.8 WBTC through FalconX at a price of 70,266 dollars, retrieving 29.75 million USDC to pay off his loan on Aave.