Crypto Whale Hit With $8M+ Loss as BTC and XRP Longs Are Liquidated

A sharp downturn across the crypto market has triggered the full liquidation of large leveraged positions held by trader 0xf79C.

The trader’s long bets—including 809.9 BTC valued at about $47.68 million and 27.92 million XRP worth roughly $28.45 million—were entirely wiped out, leading to an estimated loss of $8.42 million.

This liquidation followed a sudden price drop in Bitcoin, which fell from above $61,000 to $58,000 within an hour and then settled near $59,383, reflecting a 2.6% decline over the past 24 hours. During the same period, XRP also moved lower, slipping around 4% to approximately $1.03.

Source: Lookonchain