Trader 0xc05b Liquidated 7 Times in 10 Hours, Losing 172 $BTC and 2,984 $ETH ($16.47M)

According to Lookonchain's monitoring, trader 0xc05b has been liquidated 7 times in the past 10 hours, with the total liquidated positions including 172 BTC (approximately $11.03 million) and 2984 ETH (approximately $5.44 million).

Tom Lee, chairman of Bitmine (an Ethereum treasury firm), stated in a post that despite multiple banks announcing adoption of crypto assets and blockchain technology, the crypto market has faced sustained sell-offs over the past weeks. He believes that sell-offs in AI and semiconductor stocks may have triggered margin calls, particularly impacting Asian retail investors; the upcoming Anthropic IPO may also have prompted some investors to sell stocks in advance to raise funds. If Robinhood users receive large allocations, some retail investors may also sell crypto assets to participate in the subscription. Tom Lee also cited the recent $6.3 billion crypto asset heist as one of the potential factors. He notes that once funds in the relevant accounts are restored to availability, some holders may convert their assets into cash or stablecoins. Additionally, discussions during Anthropic’s roadshow about AI potentially weakening existing cybersecurity defenses, and the U.S. Department of Justice’s probe into chips sold to Asia (including China), may have amplified market risk aversion. He argues that these pressures will eventually subside. In the long term, crypto networks can function as transaction settlement layers, and digital assets will transform capital markets, potentially driving a crypto "super cycle" larger than previous ones. He remains optimistic about Ethereum’s role in the financial system.

According to Coinglass data, total crypto liquidations across the network reached $2.058 billion in the past 24 hours, including $1.922 billion in long-position liquidations and $142 million in short-position liquidations. Over the same period, 329,339 traders were liquidated, with the largest single liquidation order occurring on Binance’s ETHUSDT pair, valued at $16.173 million.

According to Lookonchain monitoring, despite the market plunge, multiple crypto whales are buying ETH on the dip: - Early Bitcoin supporter and ShapeShift founder Erik Voorhees’ associated wallet spent $125.27 million to acquire 63,540 ETH at an average price of $1,972. - The bottom-fishing whale "7 Siblings" spent $60.88 million to buy 31,484 ETH at an average price of $1,933. - F2Pool co-founder Wang Chun withdrew 10,997 ETH from Binance, worth approximately $21.88 million based on an average price of $1,990. - The whale "58bro.eth", which previously netted over $40 million in profits from Hyperliquid, withdrew 10,501 ETH from OKX, valued at around $20.77 million at an average price of $1,978.

loracle.hl(@loraclexyz) is taking a huge hit! His $BTC, $XMR, $ETH, and $STRK longs are now down a combined $26.7M in unrealized losses!

Many whales are still buying the $ETH dip despite the market crash! Wallets linked to @ErikVoorhees spent $125.27M to buy 63,540 $ETH at an average price of $1,972. 7 Siblings spent $60.88M to buy 31,484 $ETH at an average price of $1,933. Chun (@satofishi) withdrew 10,997