Hundredfold Leverage Life-and-Death Showdown: Taking Stock of the Recent Crazy Gambling and High Stakes of Crypto Whales
Original Title: "The Life-and-Death Game of Hundred-Times Leverage: A Review of Recent Crazy Gambling and High-Stakes Game of Crypto Whales"
Original Author: Fairy, ChainCatcher
Starting from February 25, the price of Bitcoin entered a period of intense volatility, experiencing a significant "N-shaped" fluctuation within just one week, with price swings exceeding 15%. The crypto greed and fear index remained in the "fear" zone, while retail investors were in panic amid liquidation alerts, top whales, however, sensed the "smell of blood"...
In this market game, some people accurately bought the dip and sold the top, making tens of millions in profits; others bet in the wrong direction and suffered liquidation. Who played the market like a fiddle? And who perished in the turmoil?
This review will delve into the recent magical operations of whales in the market, decoding how crypto whales staged a "bloodlicking" capital game in the contract purgatory.
The Cold Art of Hundred-Times Contract: Long and Short Strafe + Precision Timing
On February 25, Liangxi, once known as the "cancer of the crypto circles," turned $2000 into $1 million in a short period, making $600k on Weex and $500k on OKX spot.
Referencing the summary by User X @sunyangphp, Liangxi's operations were as follows:
Background: ETH showed a wide-ranging downward trend on February 25 with significant volatility.
1. Leveraging Long and Short Strafe in Volatile Market
The "long and short strafe" strategy, i.e., simultaneously conducting long and short operations in a volatile market, using high leverage (tens of times) to amplify profits. Through multiple short-term operations, they captured most of the profit from the market's volatility.
2. Riding the Last Plunge and Reversing for Bottom Fishing
Seizing the last ETH plunge, going long precisely at the lowest point.
3. Decisive Adaptation at Critical Moments
During the final plunge, a minor rebound occurred in the market. Liangxi initially misjudged the trend, went long on a reversal but quickly realized the momentum was wrong and promptly switched to a short position.
50x Leverage Whale: Thrilling Comeback Achieved through Luck and Market Timing
On March 2nd, a whale on Hyperliquid, utilizing 50x leverage to long BTC and ETH, with an initial 6 million USDC, realized a profit of 6.83 million USD within 24 hours.
Whale Address: 0xe4d31c2541A9cE596419879B1A46Ffc7cD202c62
Referencing @ai_9684xtpa's summary, the operation unfolded as follows:
1. Initial Position: 6 million USDC Principal, 50x Leverage
On March 2nd, the whale utilized 50x leverage to open a long position of over 200 million USD, including BTC and ETH longs.
· ETH: 49,384 coins, entry price $2,196, liquidation price $2,133.9
· BTC: 1,260 coins, entry price $85,671, liquidation price $84,629
2. Adding to ETH Position (incurring a 900k USD loss at this point)
Around 10:30 PM, the whale opted to increase their position, adding 914 ETH and 41 BTC to their long positions.
3. Position Adjustment: Closing Some BTC, Adding to ETH
Approaching 11 PM, the whale closed 469.48 BTC from their long position, significantly increasing their ETH holdings. ETH longs were increased to 88,510 coins.
4. Market Reversal: Trump Speech Drives Surge
At 11:30 PM, following a speech by Trump, market sentiment quickly turned bullish, with BTC breaking above $87,000 and ETH surpassing $2,250. The whale's position shifted from unrealized losses to gains, with ETH longs reaching a profit of 6.46 million USD.
5. Progressive Profit Taking
Initially reducing their ETH longs from 88,510 coins to 22,570 coins, they then closed all positions. They exited their BTC longs, nearly clearing their 831.57 BTC long position. A profit of 6.83 million USD was realized within 24 hours.
(Note: Coinbase executive Conor found that the funds at this address were from a phishing scam and belonged to a high roller at Roobet)
Whale's "Ten Big Goals First" Strategy: Instant Profits and Losses, Dancing on the Edge
The whale with the ID "Ten Big Goals First" once had a peak unrealized gain of 700 million, but it all turned out to be just a dream. In the recent market turmoil, this whale also staged a series of high-leverage extreme operations.
Based on @ai_9684xtpa's compilation, the operations are as follows:
1. Painful Liquidation
On February 25, when the Bitcoin price briefly dropped to $89,000, the whale was forced to liquidate 1,783.48 BTC at an average price of $89,138, with a total value of $159 million, while its entry price was as high as $100,320.
Subsequently, the whale completely closed all of its 5,185 BTC positions, resulting in an overall loss of $24.327 million. However, the whale claimed that some profits were not accounted for by the software, and the overall principal remained intact.
2. Comeback, Profiting $15.38 Million
On March 1, the whale entered a long position with an average price of $83,568.65 for 1,698 BTC, worth $142 million. Finally, this long position was closed in the early hours of March 3, earning $15.38 million.
3. Going Short, Speculating on Market Retracement
After closing the position, six hours later, the whale reversed to open a short position, holding a short position of 2,285 BTC (approximately $214 million) with a margin of $53.45 million and an entry price of $93,729. The whale took profit near $90,000.
4. Turning Long Again (Currently Unrealized Loss of $15.62 Million)
After taking profit, quickly went long and added to the ETH position:
· BTC: Entry Price $90,207, Holding 2,069 BTC
· ETH: Entry Price $2,285, Holding 10,800 ETH
One thought of heaven, one thought of hell. Whether it's the roller coaster ride from $2,000 to $1 million, the whale diving into a 50x leveraged gamble, or the trader who once saw a $700 million unrealized gain but ended up with just a dream after setting "10 big goals" — their trading strategies are all full of drama.
Every opening and closing trade could be a turning point of destiny. Their stories not only represent the ultimate interpretation of trading strategies but also serve as the ultimate test of market psychology and risk management. The market is always full of opportunities, and only those who constantly respect the market can find a glimpse of hope in the dilemma between getting rich overnight and losing everything.
Risk Warning
The whale trading cases listed in this article include aggressive strategies such as high leverage and high-frequency trading. While these operations can bring huge profits in extreme market conditions, they are also accompanied by high risks. It is recommended that investors trade cautiously according to their risk tolerance, properly control their positions, and avoid making impulsive decisions due to market sentiment fluctuations.
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