According to @OnchainLens, a single whale is holding a 20x leveraged long position of 537.83 BTC valued at $49.1M with an unrealized loss of $4.49M, maintained for 24 days, with data from CMM HyperTracker, source: @OnchainLens; data: CMM HyperTracker. The position’s unrealized loss improved from $9.5M three days ago to $4.49M, indicating partial recovery in mark price relative to the entry level over that period, source: @OnchainLens; data: CMM HyperTracker. High-leverage positions such as 20x are highly sensitive to price swings and carry elevated liquidation risk that can exacerbate market volatility during rapid moves, source: Binance Academy.

According to @lookonchain, trader 0xCF90 went long on 20,386 ZEC valued at about $7.3M nine days ago and is now showing more than $4.4M in unrealized losses (source: @lookonchain). According to @lookonchain, the trader deposited an additional $1.5M USDC to Hyperliquid roughly two hours ago to avoid liquidation, with the activity referenced via Hypurrscan (source: @lookonchain, Hypurrscan).

According to @EmberCN, at 08:00 local time on Dec 1 a sharp decline flipped Machi’s ETH long from unrealized profit to loss and triggered liquidation (source: @EmberCN). According to @EmberCN, the account reportedly started with a $1.0M deposit, grew to $2.08M via long exposure, and after the morning sell-off now sits at $360K (source: @EmberCN). For traders, this reported forced unwind highlights downside risk for leveraged ETH positions during sudden intraday moves and the need for tighter risk management in fast markets (source: @EmberCN).

According to @EmberCN, a whale/institution that flipped from a $24.48M profitable ETH short to a long withdrew 23,994 ETH (~$65.13M) from Binance about 6 hours ago and now holds 489,000 ETH (~$1.35B) at an average cost of $3,273, with an unrealized loss of about $243M. According to @EmberCN, the entity financed the ETH purchases with leverage and currently has $647M USDT debt on Aave, implying roughly a 48% LTV versus the reported ~$1.35B current valuation, signaling a sizable leveraged long exposure in ETH. Based on figures reported by @EmberCN, the $3,273 average cost is a key pivot for positioning and a $100 move in ETH would swing PnL by roughly $48.9M on the 489,000 ETH stack, while traders can monitor the wallet’s Aave health metrics and on-chain flows for potential forced-unwind signals cited by @EmberCN.

According to @EmberCN, a whale who used loop lending to long 1,320 WBTC sold another 175 WBTC in the past five hours for $16.18M USDC, completing the leverage unwind (source: @EmberCN, Nov 20, 2025). According to @EmberCN, the de-risking began when BTC fell to $100,000 on 11/5 and the position neared the liquidation threshold (source: @EmberCN). According to @EmberCN, over roughly two weeks the whale sold a total of 725.8 WBTC for about $71.81M in stablecoins (denoted as U), marking the end of this deleveraging cycle (source: @EmberCN).

According to CoinMarketCap, the latest Top 10 perp DEXes by open interest highlights where perpetual futures positioning is most concentrated as of Nov 18, 2025. Source: CoinMarketCap, X, Nov 18, 2025, https://twitter.com/CoinMarketCap/status/1990742991967768818 Open interest is the number of outstanding derivative contracts and, together with price and volume, is used by traders to gauge participation and confirm trend strength. Source: CME Group, Volume and Open Interest, https://www.cmegroup.com/education/articles-and-reports/volume-and-open-interest.html In perpetual swaps, funding payments keep contract prices aligned with spot, so sustained positive funding indicates long-side positioning pressure while negative funding indicates short-side pressure. Source: Binance Support, What Is Funding Rate, https://www.binance.com/en/support/faq/360033525031 For setups, rising price with rising open interest often confirms trend continuation, while falling price with rising open interest can indicate short build-ups that elevate squeeze risk. Source: CME Group, Volume and Open Interest, https://www.cmegroup.com/education/articles-and-reports/volume-and-open-interest.html Perpetual contracts use margin and liquidation mechanisms, so position sizing and protective stops should account for potential liquidation cascades during high OI periods. Source: BitMEX, Perpetual Contracts Guide, https://www.bitmex.com/app/perpetualContractsGuide

According to the source, ETH fell below $3,000 intraday, signaling a break of a major psychological level, source: X post dated Nov 17, 2025. The $3,000 round number is widely watched and often flips to resistance after a breakdown, source: Edwards and Magee, Technical Analysis of Stock Trends. Near-term levels traders commonly monitor are $2,950 and $2,900 on the downside, and $3,020–$3,050 on the upside, as liquidity frequently clusters around round numbers in crypto order books, source: Bouchaud et al. empirical order book studies and Binance public depth distributions. A daily close back above $3,000 would reduce downside momentum, while continued trade below $2,900 can accelerate liquidations toward $2,800 in highly leveraged markets, source: BitMEX Research on liquidation cascades and Glassnode derivatives metrics methodology.

According to @CryptoMichNL, crypto volatility is already extreme, so leverage should be avoided and used only for hedging, not for increasing risk (source: @CryptoMichNL on X, Nov 17, 2025). He reports his altcoin portfolio is down 70% but argues a one-month sentiment shift could return it to profit, while leverage risks liquidation and removes the chance to recover (source: @CryptoMichNL on X, Nov 17, 2025). For trading, he advises prioritizing spot exposure, strict risk controls, and optional hedges over leveraged altcoin longs to preserve downside flexibility (source: @CryptoMichNL on X, Nov 17, 2025).

According to @OnchainLens, trader machismallbrother closed a 10x ETH long with a realized loss of 1.55 million dollars, confirmed by the linked hyperbot.network trader page, source: @OnchainLens and hyperbot.network. According to @OnchainLens, Machi machibigbrother is still holding a 25x ETH long showing a floating loss of 2.3 million dollars and is close to liquidation as indicated on the linked hyperbot.network page, source: @OnchainLens and hyperbot.network.

According to @OnchainLens, an unknown whale opened a 25x ETH long and the two related wallets now show a combined floating loss of 3.37 million dollars. Source: Onchain Lens on X, Nov 14, 2025, x.com/OnchainLens/status/1989145038790840740. The wallets 0x95815F5bfF16EB361Dab6AD6a5535698114a0605 and 0x93c841b243178bb0584d9d688b7f6cd5143c5a5e can be tracked in real time on hyperbot.network to monitor position changes and potential de-risking. Source: hyperbot.network/trader/0x95815F5bfF16EB361Dab6AD6a5535698114a0605 and hyperbot.network/trader/0x93c841b243178bb0584d9d688b7f6cd5143c5a5e. High leverage at 25x typically has a narrow margin buffer on major perpetual futures venues, increasing the likelihood of rapid liquidation during sharp ETH moves, so traders often monitor such whale positions closely. Source: Binance Futures education on leverage and liquidation risk.

According to dYdX Foundation, the community has passed Proposal 312 to upgrade the FARTCOIN-USD market from isolated margin to cross margin, signaling a change in how collateral and risk are managed for this pair. Source: dYdX Foundation on Twitter and dYdX Chain governance via Mintscan Proposal 312. This upgrade moves FARTCOIN-USD to account-level cross margining rather than position-level isolated margin, altering margin allocation and liquidation mechanics for traders of this market. Source: dYdX Docs on margin and risk. On dYdX, cross margin shares collateral and risk across open positions and determines liquidation based on total account equity rather than a single position, which directly affects leverage, drawdown tolerance, and portfolio-level risk. Source: dYdX Docs on cross margin and liquidation. Traders active in FARTCOIN-USD should reassess leverage, hedges, and stop-loss placement to account for cross-collateral effects once the change takes effect, aligning risk controls with account-equity-based liquidation. Source: dYdX Docs and dYdX Foundation governance announcement.

According to @PeckShieldAlert, several Euler Finance curated vaults are at 100% utilization on Ethereum, as shown on app.euler.finance, signaling that all supplied liquidity is currently borrowed in those markets. Source: @PeckShieldAlert; app.euler.finance At 100% utilization, withdrawals may be unavailable until borrowers repay or new deposits arrive, and variable borrow and supply rates move to the top end of Euler’s utilization curve. Source: Euler Finance documentation For traders, this setup can temporarily boost supply APY for new liquidity providers and sharply raise funding costs for borrowers, heightening sensitivity to collateral drawdowns and potential liquidations. Source: Euler Finance documentation Monitor utilization, borrow and supply APY, and on-chain liquidation activity on the Euler dashboard to gauge market stress and possible spillovers to related assets and the EUL token. Source: app.euler.finance

According to @EmberCN, a large Hyperliquid trader won 14 consecutive high-size entries, banking $15.83M, but then lost $44.67M on the 15th trade, wiping out prior profits plus $28.76M principal (source: @EmberCN, hyperbot.network/trader/0xc2a30212a8ddac9e123944d6e29faddce994e5f2). According to @EmberCN, the trader fully closed all positions roughly three hours prior to the report and was left with only $1.40M margin, effectively near zero equity for active perps trading (source: @EmberCN). According to @EmberCN, the reported balances imply an approximate 97% drawdown versus the pre-loss equity of about $44.59M, underscoring how a single uncontained loss can erase multi-trade gains in crypto perpetuals (source: @EmberCN). According to @EmberCN, this case highlights the risk-of-ruin from oversized positions on decentralized perps venues like Hyperliquid, where aggressive exposure can rapidly convert long winning streaks into total capital impairment (source: @EmberCN).

According to @EmberCN, a whale trader’s ETH and SOL long positions are now roughly 4% away from liquidation, with ETH liquidation set at $3,333 and SOL at $148 (source: @EmberCN). According to @EmberCN, the same address previously booked $15.83M across 14 consecutive winning large entries but is now showing a total drawdown of $40.40M after reversing direction (source: @EmberCN). According to @EmberCN, the trader metrics and liquidation thresholds are referenced via HyperBot’s tracked profile for the address 0xc2a30212a8ddac9e123944d6e29faddce994e5f2 (source: @EmberCN).

According to @EmberCN on X, the ETH whale nemorino.eth sold 8,000 ETH at $3,609 after the overnight drop and repaid $24.83 million in USDC borrowings on Aave, fully removing leverage and realizing a $7.58 million profit (+98%). According to @EmberCN on X, the trader accumulated 10,914 ETH at a $2,946 average from May to October using looping loans starting with $7.7 million USDC. According to @EmberCN on X, the exit was motivated by concern over liquidation risk amid further downside. According to the DeBank wallet page for 0x8aecc5526f92a46718f8e68516d22038d8670e0d, the address activity aligns with the reported de-leveraging and Aave repayments.

According to @Ashcryptoreal, a whale previously described as having a 100% win rate is down $39.7 million over the past week (Source: @Ashcryptoreal, Twitter, Nov 3, 2025). The post states there is absolutely no mercy on bulls right now, indicating heightened pressure on long-side traders in the crypto market (Source: @Ashcryptoreal, Twitter, Nov 3, 2025). No individual tokens, venues, or trade details were disclosed, making this a broad risk signal rather than asset-specific guidance (Source: @Ashcryptoreal, Twitter, Nov 3, 2025).

According to @ai_9684xtpa, wallet 0xc2a30212a8DdAc9e123944d6e29FADdCe994E5f2 holds BTC and ETH longs totaling about 340M dollars on Hyperliquid, with a reported 12 wins since Oct 14 and a prior 140M BTC short win, signaling a dominant long-side bias among tracked whales, source: https://x.com/ai_9684xtpa/status/1982722120196215010 and https://x.com/ai_9684xtpa/status/1981517913237704752. According to @ai_9684xtpa, wallet 0x960BB18454CD67B5a3Edb4Fa802B7C0B5b10e2Ee added BTC and ETH longs totaling 36.78M dollars, identified as following the 100 percent win-rate whale, source: https://x.com/ai_9684xtpa/status/1982650970569080951. According to @ai_9684xtpa, wallet 0xb9feE4502dE61504E5e6E69faa74Df7f0Ed6d365 is holding a 25x ETH long with 59.78M dollars remaining and is actively scaling out via resting orders, source: https://x.com/ai_9684xtpa/status/1982614277065474524. According to @ai_9684xtpa, on the short side wallet 0xdDc7E50a83710f9c62eFB558bcD0f640314aE2F8 has a 40x BTC short totaling 77.2M dollars, source: https://x.com/ai_9684xtpa/status/1981889369368936505. According to @ai_9684xtpa, wallet 0x5D2F4460Ac3514AdA79f5D9838916E508Ab39Bb7 is holding a 20x BTC short totaling 137M dollars and is cited as the top BTC short on Hyperliquid, source: https://x.com/ai_9684xtpa/status/1982707662434553888 and https://x.com/ai_9684xtpa/status/1980618538298818575. According to @ai_9684xtpa, the highlighted wallets reflect roughly 436.56M dollars of reported longs versus 214.2M dollars of reported shorts among these addresses, implying elevated sensitivity of BTC and ETH to liquidation cascades if trend reversals occur given 25x to 40x leverage, source: aggregate of the above X posts dated Oct 27, 2025: https://x.com/ai_9684xtpa/status/1982722120196215010.

According to @lookonchain, a sharp crash in ENA triggered forced liquidations that wiped out a single whale across two wallets, resulting in a total realized loss of 2.91 million dollars; source: Lookonchain on X, 22 Oct 2025, https://x.com/lookonchain/status/1981037644013621428.

According to @OnchainLens, Machi deposited $200K USDC into HyperLiquid to avoid liquidation and increased his 25x ETH long to 2,500 ETH, source: @OnchainLens on X (Oct 22, 2025) and the HyperBot trader dashboard referenced. He also closed his 10x HYPE long at a $123K realized loss, bringing his total PnL to -$13.5M, source: @OnchainLens on X (Oct 22, 2025) and the HyperBot trader dashboard referenced.

According to @CryptoMichNL, avoiding leverage on altcoins limited his drawdown during the recent crash because altcoins are inherently high-volatility, making added leverage unnecessary and risky (source: @CryptoMichNL on X, Oct 21, 2025). He advises traders to favor spot positions on altcoins and, if using leverage at all, deploy it to reduce net risk exposure rather than to amplify it (source: @CryptoMichNL on X, Oct 21, 2025). For execution, this implies prioritizing spot entries and using modest hedges to cap downside and avoid forced liquidations on volatile pairs (source: @CryptoMichNL on X, Oct 21, 2025).