Data: A certain Bitcoin long position was liquidated with a loss of 12.49 million USD, possibly due to the sell-off by an "ancient whale" converting BTC to ETH

ChainCatcher message, according to @ai_9684xtpa's monitoring, a certain Bitcoin bull was liquidated at $109,892, resulting in a loss of $12.49 million.

Yesterday, the downward spike in BTC caused significant losses for the bulls, with a total liquidation of $628 million across the network in the past 24 hours, affecting over 130,000 people.

As for the reason, many analysts have speculated: it may be due to the "ancient whale of BTC that has been dormant for seven years and is now high-profile switching to ETH," which currently still holds 67,118 BTC ($7.62 billion) on-chain.