Bitcoin liquidation continues as on-chain data provider LookonChain has found a trader who sold a spot position in Bitcoin and bought a long position that was 40x leveraged in BTC at wallet address 0x4227. The amount of position is 970 BTC, which is equivalent to $103.5 million.
Gamblers never learn. They still prefer high leverage.
0x4227 sold his $BTC spot and opened a 40x leveraged long at $BTC with a position of 970$BTC ($103 million).
This gambler already lost over $6 million on perps.https://t.co/D386Suwybv pic.twitter.com/ixs13dir1x
– lookonchain (@lookonchain) June 25, 2025
The bet has cost whales over $6 million so far, making it questionable how sustainable this kind of aggressive approach is in the current choppy market, despite high levels of convictions.
A $103 million long position will be sour
Based on trading information on HyperDash.info, the trader was completely biased with a 100% exposure to Bitcoin. The overall position rating is 103,478,798.25, and the leverage is currently about 18 times.
This started with a trade entry price of 106,687.60, slightly above the current value of 106,651, reaching a position of 1.37% or 35,563.15 under current unrealized terms.
Nevertheless, the broader PNL graph has a more discouraged image, achieving losses above $6 million as a result of previous liquidation.
Frequent microtrading and location management
Looking at the trading dashboard, you can see a surge in activity with many small BTC longs and sales of tokens labeled @142. The amount for these transactions ranged from 0.005 to 0.52 BTC, with a price of around $106,600.
Traders seem to be handling their positions very aggressively, perhaps, to reduce the average entry price or hedge for catastrophic volatility.
Risky Bitcoin movements in markets utilized
With a liquidation price of 102,008.15 and a margin of over $2.5 million, the position is hanging from thin threads, further dropping BTC prices and completely cleaning. This is a tough lesson about the risks of stacking the crypto market.
The higher profit potential is too sweet, as traders cannot resist the temptation, even after repeated past lessons and numerous warnings from experts. In Lookonchain's words, gamblers never learn. They still prefer high leverage.
