Bitcoin (BTC) surged to a new all-time high exceeding $123,000, triggering $622 million in short liquidations across the crypto market within 24 hours. Trader Qwatio suffered catastrophic losses as $334 million in leveraged short positions—including 1,743 BTC ($211M), 33,743 ETH ($102.3M), and 15 million FARTCOIN ($20.6M)—were liquidated in just three hours on Hyperliquid, resulting in a $25.8 million loss.
This wipes out nearly all Qwatio's prior $26 million profits, echoing high-profile trader James Wynn's recent $100 million loss. In contrast, Aguila Trades gained $2.3 million from Bitcoin longs. The rally elevated long-term holders like Satoshi Nakamoto (holding $133 billion in BTC) to the 11th-richest global position, reigniting debates on leveraged trading risks versus HODL strategies.
