Trader Loses $4.3 Million on $70 Million Bitcoin Short Amid Historic Liquidation Event

A Bitcoin trader woke up to a $4.3 million loss on a $70 million short, marking one of the largest losses in crypto history.

The trader, known by their pseudonym Laanie, had gone to bed with a $70 million Bitcoin (BTC) short open and woke up to friends calling them to close positions, resulting in the massive loss.

'My heart was pounding through my chest, my body went cold, my head was sore and I started throwing up,' they wrote on X.

Despite the significant loss, Laanie chose to keep the position open, stating 'I will ride it down or to death whichever comes first.'