On March 2nd (UTC+8), according to Hyperinsight monitoring data, the largest long address on BTC (0xdf1) was liquidated 4 times in the past hour, with a total liquidation amount of approximately $3.9 million USD. As a result, over the last 24 hours, this address was liquidated a total of 24 times, and the funds on its account sharply decreased from yesterday's peak — about $2.66 million USD — to just $140,000 USD, representing a correction of more than 94.7%. The next liquidation price for the remaining BTC positions is $65,370 USD.

In the morning of March 1st, immediately after the official announcement of the death of Iran's Supreme Leader Ayatollah Khamenei, this address opened a large long position on BTC with 40× leverage, possibly expecting an end to military actions and a market recovery. The volume of its long BTC position reached 1000 BTC (approximately $66.83 million USD), making it the largest BTC long on the blockchain at that time; the liquidation price was around $66,560 USD.

The source of funds for this large bet was not new margin but unrealized profit from a long position in SOL. On February 28th, the address deposited about $470,000 USD on the Hyperliquid platform and bought SOL with high leverage at an average price of $78 USD per token. The next day, the price of SOL rose to $88 USD, and the initial capital increased more than fivefold. This unrealized profit allowed for a BTC bet but also increased the risk of liquidation for both positions if prices declined.