A Bitcoin bull was liquidated with a loss of $12.49 million, possibly due to a sell-off by the "Sleeping Seven Years High-Profile ETH Whale" who swapped BTC.

BlockBeats News, August 25th. According to on-chain analyst Ai Auntie (@ai_9684xtpa), a certain Bitcoin bull was liquidated at $109,892, losing $12.49 million.

Yesterday's sharp drop in BTC directly caused heavy losses for the bulls. In the past 24 hours, a total of $628 million was liquidated across the entire network, with over 130,000 people being liquidated.

As for the reason, many analysts have provided speculation: it may be due to the "low-key whale who moved dormant $ETH to $BTC after seven years" selling off, as they still hold 67,118 BTC on-chain (worth $7.62 billion).