Whale Liquidates PAXG: 20 million swing trader short position loses over 50%, still holding a $1.49 million position

LiquidityWitch · 2026-01-21T10:00:13+00:00

A whale address named "20 Million Wave Hunter" reduced its short position by 78.14 PAXG on January 21, equivalent to approximately $373,000, resulting in a total floating loss of $151,000. This trader is known for high-frequency swing trading, and although this operation was not successful, they have achieved nearly $100 million in profits since last year.

LiquidityWitch

2026-01-21 10:00:13

Abstract generation in progress

【Crypto World】According to on-chain data monitoring, a whale address with the nickname “20 Million Wave Hunter” (0x880a…) made a move against its PAXG (on-chain gold) short position on January 21. This time, the operation was not gentle—directly reducing 78.14 PAXG shorts, equivalent to about $373,000 in real gold.

It seems this big player can no longer hold on. Currently, its PAXG short position is worth approximately $1.494 million, but it has a floating loss of up to $151,000, with a loss rate close to 51%. The average entry price is stuck at $4,399.04, while the liquidation price is far at $61,360.732, indicating significant risk in this short.

Interestingly, this address is known for high-frequency wave trading, with an average holding time of only about 20 hours, adopting a quick in-and-out trading style, rotating among multiple tokens. But even so, it seems this PAXG trade missed the rhythm. That said, the trader’s long-term track record is still impressive—since October last year, with a principal of $20 million, they have accumulated nearly $100 million in profits. This cut might just be a minor correction in a larger wave.

PAXG1,83%

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DAOdreamer

· 01-24 06:04

Haha, even the swing trader has his day today. PAXG directly pressed him to the ground and rubbed it in. A 51% loss can be endured for so long, he really is a tough guy. Black Swan events are always a free gift; gold really isn't a good asset to short and gamble on. This guy usually trades quickly in and out. This time, he’s probably stuck and can't move. Cutting $370,000 in losses still hurts so much. He shorted gold and still hopes to come out alive. Even the chosen ones find it difficult. Is this the end of the swing trading cycle? Seeing him still holding a position of 1.49 million, is it confidence in the bottom or a last gasp? Will this rebound?

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BlockchainBrokenPromise

· 01-23 15:43

Haha, even big players have their moments of inability to hold. A 51% loss and still holding on—how much pressure does that take? --- The swing trader got caught, hilarious. After 20 hours, the result is almost out—has this trade been dead for a month? --- Still refusing to cut at 1.49 million, with such a wide liquidation gap—just waiting for a rebound to save the day. --- Real money, 373,000 just cut like that. There’s still 1.49 million at stake behind, must be very bullish on gold. --- How did the hourly swing trading get screwed over by gold? That’s unscientific. --- Holding onto a short with a 51% loss—either obsessed with gold or just a gambler’s mentality. --- This guy usually trades in and out quickly, very slick—until he faced PAXG and revealed his true colors. --- The liquidation gap is still far away—still not panicking, keep waiting? Or really can’t wait anymore? --- Losing so much and still not running—are you faithful or just trapped and can't get out?

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DataBartender

· 01-21 10:29

Losing 50% and still holding on, this wave hunter is really incredible. Gold is not to be messed with, brother.

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GasFeeDodger

· 01-21 10:26

Oops, even swing traders have their bad days. I told you, gold is something you can't afford to hurt yourself with. 1.49 million still holding on stubbornly, really a gambler's mentality... If it were me, I would have cut it already. Fast forward and out in 20 hours, this set is so deep, hilarious. Swing trading is no longer effective. Losing 51% and still holding, that's incredible mental strength. Truly impressive. Gold's rally is so strong, short positions should have given up long ago.

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tx_pending_forever

· 01-21 10:25

Haha, a 49% loss and still holding on. This guy really has guts. --- The swing trader got wrecked. Looks like gold isn't easy to mess with either. --- Liquidation price is over 60,000, now only around 4,400. This short position is still far from liquidation. Just wait and see. --- $370,000 just gone. How long do I have to work to break even? --- Hey, this guy usually fast-forwards and out in 20 hours. Why is he holding a long-term position now? Is PAXG that attractive? --- 51% unrealized loss and still holding? Aren't you just gambling... --- The little swing trading king got wrecked. That made me laugh. --- High risk, the difference between liquidation price and current price is so big. What will happen if it rebounds? --- Reducing position but still losing. It means the entry timing was too poor. --- Even whales have their wrecked moments. I've come to terms with it.

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MeaninglessGwei

· 01-21 10:20

Haha, this wave band hunter really crashed, even shorting gold to such an extent is truly incredible --- A position of 1.49 million USD still holding, this guy's mentality is really strong --- 20 hours of fast in and out style actually lost 51% on PAXG, indicating that some market conditions are unavoidable --- Short gold down to the liquidation price of 61k... isn't this gambling with life? --- Big players also have to bow, reducing positions to stop losses is smart, not all trades can turn around --- Why isn't this guy running yet? If he keeps holding, he'll definitely get liquidated --- The wave band hunter crashed, I would have cut losses and run long ago, there's no need to be so stubborn --- This PAXG trade is so torturous, a stop loss of 370,000 USD still results in a loss, it's too difficult

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GasFeeBarbecue

· 01-21 10:19

Haha, this swing trader finally tasted the iron fist. A 51% loss and still holding on? I think they'll have to cut all their losses sooner or later. Shorting has its downsides; when gold rises, there's no stopping it. The biggest risk in our line of work is betting against the trend. This guy usually trades 20 hours a day, so why is he stuck this time? PAXG is really holding strong. It's been a month and a half since I've seen such an outrageous margin call, only liquidated at 61360? Gold is really about to take off this round. The swing trader's failure shows that short-term strategies are already outdated. We still need to look at the macro, right? Continuing to hold 1.49 million, this brother must be either a gambler or truly have faith. Anyway, I already sold early.

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MEVHunterNoLoss

· 01-21 10:13

Haha, you're only running now? What were you doing earlier? The swing trader probably just shot themselves in the foot this time. If you can't sell, you just have to hold tough. The 1.49 million is still in there, and the liquidation price is so outrageous... You must have incredible mental resilience. This PAXG move is truly amazing. Holding onto a short with a 50% loss—are you betting on gold to fall or what? I heard this guy usually fast-forwards and out in 20 hours, but this time he's definitely had a bad turn. The swing has collapsed, indeed. Holding onto $1.49 million like this is really tough. But honestly, with such a big gap in the liquidation price, he might really be betting on a rebound. This position has been held for so long—either liquidation or a turnaround. It all depends on when gold shifts. Running away with 370,000 might still hurt, but a 51% loss is no small number.

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CryptoWageSlave

· 01-21 10:04

A 51% loss and still holding on, how much patience does that take... Swing traders getting caught on gold is quite interesting.

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