High-risk trader’s $334M short positions wiped out as BTC surges past $123,000

On July 14, Falllling’s $334 million in short positions were liquidated, including 1,743 BTC valued at $211 million and 33,743 ETH worth $102.3 million. This situation mirrors James Wynn’s prior experience, highlighting the risks in high-leverage trading strategies.

Following BTC’s surge to an all-time high of $122,604, short traders faced mass liquidations, totaling $702.56 million on July 14. The market saw over 124,000 traders liquidated, with short positions representing the majority of losses.