Significant Liquidation of BTC and ETH Positions Observed

On February 5, a major BTC long position starting with address 0x4b6 faced substantial liquidation over the past two hours, amounting to $11.46 million. According to BlockBeats On-chain Detection, the largest single liquidation reached $3.08 million, marking the second-largest single liquidation scale across the network in the last six hours. Since January 19, this address has been holding a long position with an initial capital of $1.7 million. Currently, the account balance has dwindled to less than $100,000. The BTC long position, leveraged at 40 times, has been liquidated by 158 BTC, leaving a remaining position size of $3.98 million and an unrealized loss of $490,000, with a loss rate of -492%. The next liquidation price is only 0.54% away at $70,574. Additionally, the address's 25 times leveraged ETH long position has nearly been wiped out in this round of liquidation. Previously, this position had an unrealized loss of -1134%, equivalent to more than 11 times the initial capital.