Whale Addresses on Brink of Liquidation as Bitcoin Price Nears $61,000 Threshold

Two large 'whale' addresses are holding $86.2 million in leveraged long positions, just below the current Bitcoin price of $63,057.

Their liquidation thresholds are set at $61,079.4 and $61,096.7, respectively, which is a mere 3.2% away from the current market value.

This high-stakes leverage game has left these whales with narrow safety margins, making them vulnerable to a sudden drop in price.

According to blockchain monitoring service Lookonchain, these two addresses collectively hold 1,364 BTC in leveraged long contracts.