Cryptocurrency lost $ 111 million after bitcoin’s growth

One of the largest players in the crypto market has suffered significant losses due to the sharp rise in the price of bitcoin BTC $79,947.97 Bitcoin 0.41% Market capitalization $1.61 trillion VOL. 24 hours $0.71 billion : according to Lookonchain, $ 111 million worth of cryptocurrency positions were liquidated on the Hyperliquid platform. The trader had opened a number of short positions at over $ 101,000, expecting a drop in value, but the rise in the price of bitcoin to almost $ 106,000 led to the forced liquidation of these bets.

Despite the fact that the trader initially made a profit of $ 3.41 million, the final loss after liquidation amounted to $ 3.51 million. At the time of writing, bitcoin was trading at $ 105,120, up 3.6% from the previous day, and its peak value for the day reached $ 105,927.

Interestingly, bitcoin has only about 6% to go to the current historical high ($ 111,814) set last month. This situation demonstrates the increased volatility of the market and the risks of aggressive leverage even for large participants.