A whale sold off 700 WBTC at a loss, incurring a loss of approximately $21.68 million.

According to Odaily Planet Daily, monitoring by on-chain analyst Yu Jin, due to the recent sharp correction in BTC, a whale who purchased 700 WBTC four months ago through a revolving loan is nearing liquidation. This whale liquidated its position this morning, incurring a loss of approximately $21.68 million. Between May and July, it borrowed USDT leverage through Aave to purchase 700 WBTC, valued at $81.62 million at the time, with an average price of $116,603. After BTC recently corrected to $80,000, its position was nearing liquidation. The whale transferred all 700 WBTC to Binance at $85,628 and withdrew USDT to repay the loan.