Crypto Whale Faces Significant Losses Amid Market Downturn

A major cryptocurrency investor has incurred substantial losses following recent market fluctuations. According to PANews, the investor, known for purchasing $263 million worth of WBTC and ETH through leveraged loans, sold 400 WBTC for 34.67 million USDT after Bitcoin's price fell to $86,000.The investor's strategy of buying high and selling low has resulted in a total loss of $51.17 million. Specifically, the investor bought 18,517 ETH at $4,415 each, totaling $81.75 million, and later sold them at an average price of $3,049, resulting in a $25.29 million loss. Additionally, the investor purchased 1,560 WBTC at $116,762 each, totaling $182 million, and sold 960 WBTC at an average price of $89,798, leading to a $25.88 million loss.