A whale saw its BTC holdings tumble and its S&P 500 position affected, leading to a personal liquidation cascade that resulted in liquidations of over 10 million across the entire S&P 500 in less than an hour.

BlockBeats News, March 26, according to Hyperinsight monitoring, in nearly 1 hour, the total liquidation amount of S&P500 (S&P 500 Perpetual Contract) reached $11.7 million, ranking third in scale only after BTC and ETH. It is reported that almost all of this liquidation amount came from the same address on Hyperliquid, attributed to a whale with an address starting with 0x965.

It is reported that the trigger for this liquidation was not a significant drop in the S&P 500 itself, but a temporary decline in BTC affecting account margin, causing the full-position S&P500 long position opened by this address to be under pressure. A total of 1779.8 long positions were liquidated in a short period, totaling about $11.63 million, with a loss of about $195,000 recorded.