Andrew Tate’s 40x Bitcoin long is liquidated for this much
Andrew Tate opened a 40x-leveraged long position in Bitcoin (BTC) through Hyperliquid, but it was fully liquidated in 24 hours. On June 16,Tateentered a long position of 57. 36 BTC, with a notional value of. . .
Andrew Tate opened a 40x-leveraged long position in Bitcoin (BTC) through Hyperliquid, but it was fully liquidated in 24 hours. On June 16,Tateentered a long position of 57. 36 BTC, with a notional value of approximately $3. 79 million, at an average entry of around $66,045, according todatafromHypurrscan. At the time of entry, his position had a liquidation price of $65,215. Tate’s 40x BTC long position. Source: HyperliquidOn June 17, Tate’s position came under heavy pressure as Bitcoin’s price dropped. Hyperliquid triggered multiple partial liquidations, reducing his position size from 57. 36 BTC to about 29. 37 BTC. Tate’s 40x BTC long position. Source: HyperliquidAt press time, Tate’s Bitcoin position was fully liquidated, resulting in a total loss of his margin and funding fees. Notably, he attempted to avoid a full liquidation by increasing his margin with a $72. 11 deposit, resulting in a total loss of $95,478. Tate’s transactions. Source: HyperliquidWhat’s the impact of Tate’s Bitcoin liquidation?As Tate lost his margin on a leveraged Bitcoin position, his net losing streak reached more than 107 times, as peranalysisfromLookonchain. The trader attempted to ride the recent BTC price recovery, but joined other long bets that were liquidated over the past 24 hours. Furthermore, out of the $77. 90 million liquidated in the Bitcoin market over the past 24 hours, $68. 66 million involved long traders, based ondatafromCoinGlass. The notable liquidation of Bitcoin long traders may have fueled a long squeeze, a rapid price drop that forces leveraged long positions to close and accelerates the sell-off. BTC price 24 hours. Source: FinboldOver the past 24 hours, the BTC price has dropped by more than 2%, trading at $64,730 at the time of publication. As such, Tate was among the forces that pushed the BTC price lower over the last 24 hours, as he opened a 40x-leveraged BTC short position immediately after the long was fully liquidated. Best Crypto Exchange for Intermediate Traders and InvestorsInvest in cryptocurrencies and 3,000+ other assets including stocks and precious metals. 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro. com/trading/fees. Copy top-performing traders in real time, automatically. eToro USA is registered with FINRA for securities trading. 30+ millionUsers worldwideeToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. Join Finbold's newsroom, become a Sales Executive today!Apply now to join Finbold as a crypto/finance news writer!Open Positions