Crypto Whales' Pain: Market Downturn Hits Prominent Traders Hard

Crypto prices took a hit recently, with BTC briefly dipping below $60,000 and ETH falling to around $1,600. The total liquidation volume over the past 24 hours reached $971 million, with long position liquidations accounting for nearly $785 million.

Among those affected by the market downturn are several prominent crypto whales on the Hyperliquid platform. One of them holds a long position of 120,000 ETH, with an unrealized loss exceeding $77 million. He added $8 million in margin to ensure the liquidation price remains below $1,200.

Another whale, known as Machi or 'Loyal Long ETH Soldier', has experienced cumulative losses exceeding $33.75 million on his ETH long positions. Despite this, he continues to hold a 25x ETH long position with an unrealized profit of around $20,000.

The market's recent fluctuations have also affected the 'October 11 Insider Whale', who capitalized on last year's major crash. His 5x BTC long position now has an unrealized loss of approximately $18.4 million.