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Sometimes luck really can decide life or death.
Half a month ago, a certain whale account almost experienced a historic liquidation—an ETH long position worth $167 million, with a liquidation price at $2,595. On November 21, ETH dropped to a low of $2,623, just $28 away from liquidation. That tiny gap is barely enough to buy a cup of bubble tea.
How exaggerated was his position at that time? A combined $256 million in ETH and XRP longs, with unrealized losses soaring to $44 million. If he had been liquidated, he would have ranked among the top on the on-chain liquidation leaderboard.
And the result? Now his ETH long position has already broken even. The market is just this magical—someone is on the brink of bankruptcy one moment, and fully revived the next. This move gives new meaning to the phrase "bottom fishing takes courage"—you also need enough margin and a little bit of mystical luck.