2026-01-15 01:16:21

A certain large holder once built a position at a high level through a cycle loan method, investing approximately $263 million to deploy WBTC and ETH. Recently, after BTC broke through the 97K threshold, this whale began to cut losses — selling 300 WBTC and successfully cashing out 29.11 million USDT at a price of $97,053 to repay debts.

But behind this sale is a rather heavy bill. According to on-chain data retrospective, this trader started building the position as early as August last year. At that time, they bought 1,560 WBTC at an average price of $116,762, spending $182 million. During the same period, they also bought a large amount of ETH at $4,415 each.

From building the position to now selling at a loss, this large holder has realized a loss of nearly $39.15 million. The classic pattern of buying high and selling low, even for a whale, is not immune. This operation also serves as a reminder to the market — no matter how large the funds, market sentiment and cycles demand paying the price.

WBTC-0,68%

ETH-1,89%

BTC-0,75%

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BlockchainArchaeologist

· 01-18 00:52

Spending 263 million still means taking a loss—that's the power of the cycle. Even big players can't escape the curse of catching the bag at a high point, honestly. Having a large amount of capital makes it even easier to miss the boat; the risk of leverage cycle loans is too high. Bought at 116k in August, and I'm still at a loss... this ledger is pretty grim.

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ImpermanentPhobia

· 01-16 07:49

Damn, this is the legendary "whale also gets cut," with 39 million USD evaporating directly, so painful. The blood-soaked history of catching the top, no matter how much money you have, it can't stop the cycle of cutting leeks. The cycle loan building strategy is inherently gambler's mentality; once it turns, it's a bloodbath. Bought WBTC at 116k, now selling at 97k, how painful is that, haha. Paying debts, paying debts, even big players have to admit defeat; no one can beat the market cycle. Having a lot of funds doesn't guarantee victory? Dream on, this example is the most convincing. Watching the whales lose, I feel a bit better inside. This reminder was worth it; greed kills, everyone.

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RektButAlive

· 01-15 01:46

2.6 billion invested still can't escape being trapped, it seems even big players have to pay tuition fees --- Once again, a classic tragedy of buying at a high point, even whales can't save themselves --- $39.15 million in tuition fees, this cycle of leveraged loans is playing a bit too aggressively --- When entering at 116k, confidence must have been high. Now, how painful it is to cut losses like this --- So, no matter what anyone says: the more money you have, the easier it is to fall into a trap. The market doesn't look at account balances --- In the face of cycles, having more money is useless. Few people realize this --- Selling 300 coins to stop the bleeding, but what about the remaining 1260 coins? That's the real gamble

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Blockchainiac

· 01-15 01:45

Even a big whale has to take a hit; 260 million still couldn't escape. Leverage is something no one can escape from. Picking up the bag at a high position is really outrageous; millions just disappeared like that. This guy must be in a lot of pain, luckily it was so thorough. Everyone is equal in front of the market, indeed. Another whale cut, it cracks me up. 260 million in tuition fees, that's not cheap.

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ChainMaskedRider

· 01-15 01:39

This whale is really something else. Investing $263 million and still ending up cutting losses... What does it tell us? Even with plenty of money, human nature can't be changed. I've said it before—buying at a high point is just asking for death. Look at this guy, bought in at 116K, and now... lost everything. Having a large amount of capital—so what? It still can't escape the cycle’s deadly grip. This deal is not worth it at all.

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SwapWhisperer

· 01-15 01:30

Oh my goodness, even whales have to cut their losses. This is unbelievable. Losing nearly 40 million just to pay off debts, I really want to ask, is this leverage worth it? The fate of buying high and selling low, having large capital can't save you. Using revolving credit to build positions... I wonder if this risk awareness is asleep? Still the same saying, no one can beat the cycle.

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0xLostKey

· 01-15 01:29

Haha, another lesson from a whale's bloodshed. Having more funds can't save those trapped. Whether you sell or not, it’s really uncomfortable. This loss is truly "deep." The cycle loan scheme ultimately cannot be escaped. Investing 263 million yuan resulted in a loss of 39.15 million, which is quite painful. Always a trap to buy at high levels. Larger capital makes it easier to be overwhelmed by emotions. This whale should have cut losses decisively long ago. Only now does it take action, and how much is left after paying off the debt? Basically, it was a wrong cycle to bet on. What is ETH at 4415 now? The mentality is collapsing. In front of the market, everyone is equal. This is another bloody validation. It’s better to short properly than to use cycle loans to build positions. Just looking at this number makes me feel bad for him. The loss could have been used to build another position.

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