According to @lookonchain, a sharp crash in ENA triggered forced liquidations that wiped out a single whale across two wallets, resulting in a total realized loss of 2.91 million dollars; source: Lookonchain on X, 22 Oct 2025, https://x.com/lookonchain/status/1981037644013621428.

According to @OnchainLens, Machi deposited $200K USDC into HyperLiquid to avoid liquidation and increased his 25x ETH long to 2,500 ETH, source: @OnchainLens on X (Oct 22, 2025) and the HyperBot trader dashboard referenced. He also closed his 10x HYPE long at a $123K realized loss, bringing his total PnL to -$13.5M, source: @OnchainLens on X (Oct 22, 2025) and the HyperBot trader dashboard referenced.

According to @CryptoMichNL, avoiding leverage on altcoins limited his drawdown during the recent crash because altcoins are inherently high-volatility, making added leverage unnecessary and risky (source: @CryptoMichNL on X, Oct 21, 2025). He advises traders to favor spot positions on altcoins and, if using leverage at all, deploy it to reduce net risk exposure rather than to amplify it (source: @CryptoMichNL on X, Oct 21, 2025). For execution, this implies prioritizing spot entries and using modest hedges to cap downside and avoid forced liquidations on volatile pairs (source: @CryptoMichNL on X, Oct 21, 2025).

According to @ai_9684xtpa, a Hyperliquid trader known as Maji went from a $44M account profit on Sept 19 to a $53.62M loss over the past month, effectively giving back all gains, with losses concentrated in ETH and XPL long positions (source: @ai_9684xtpa on X, Oct 15, 2025; hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872). The trader currently holds an $8.79M ETH 25x long that is just $61.5 from the liquidation price with a $120k unrealized loss, indicating elevated liquidation risk on that position (source: @ai_9684xtpa on X, Oct 15, 2025; hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872).

According to the source, independent coverage requires a primary announcement from Myriad; traders should secure official documentation before execution to meet risk governance best practices (source: CFTC Staff Advisory on Digital Asset Derivatives; IOSCO Decentralized Finance report). Verify the sentiment index and oracle design—provider, update cadence, manipulation resistance, and failover—because oracle weaknesses are a primary failure vector in DeFi derivatives (source: Chainlink Whitepaper 2.0; UMA Optimistic Oracle docs). Review funding-rate mechanics, clamp limits, and the insurance fund to gauge liquidation cascades and long-short balance (source: dYdX v4 risk parameters; Perpetual Protocol documentation). Confirm audited contracts, canonical addresses, collateral rules, and monitor TVL and volumes to assess market depth before position sizing (source: Trail of Bits DeFi Security report; DeFiLlama methodology).

According to @rovercrc, the same whale who reportedly made $192M by shorting ahead of Trump’s tariff announcement has opened another $160M Bitcoin (BTC) short position; this claim is based on a social post without attached transaction proofs. Source: @rovercrc. Because the post does not provide independent verification such as on-chain transaction IDs or exchange position data, traders should treat the flow as unverified until corroborated by derivatives or on-chain analytics. Source: @rovercrc; CME Group education on futures due diligence. Large directional positions can influence funding rates, skew open interest, and elevate liquidation risk when price moves against the crowded side, which traders typically monitor via funding flips and liquidation heatmaps. Source: Binance Futures Education Center. Near term, traders may track BTC open interest changes, funding rate direction, and order book liquidity gaps to assess whether the reported short is impacting price action before positioning. Source: Binance Futures Education Center; CME Group education.

According to @JasonSoraVC, BlackRock bought 45,000 BTC at an average price of $105,000 during the flash crash, implying a large institutional bid on the dip (source: @JasonSoraVC). According to @JasonSoraVC, the author believes this buying likely prevented a cascade of liquidations and a breakdown below the $100,000 level (source: @JasonSoraVC). According to @JasonSoraVC, the stated 45,000 BTC at $105,000 implies $4.725 billion notional, indicating the $5 billion figure is a rounded estimate based on the figures provided (source: @JasonSoraVC). Traders seeking confirmation should monitor iShares Bitcoin Trust (IBIT) daily creations/redemptions and any related disclosures, according to BlackRock and the SEC’s standard reporting channels (source: BlackRock IBIT disclosures; SEC EDGAR). For trade setup, focus on whether $100,000 holds as support and if buy interest reappears near $105,000 where the author indicates bids occurred, according to @JasonSoraVC (source: @JasonSoraVC).

According to @paoloardoino, USDT is the best collateral for derivatives and margin trading because it is liquid and tested by fire, emphasizing stablecoin liquidity for margin risk management. Source: @paoloardoino on X, Oct 12, 2025. He warns that using low-liquidity tokens as collateral can create stress when markets move, highlighting liquidation and slippage risks during volatility. Source: @paoloardoino on X, Oct 12, 2025.

According to @ai_9684xtpa, a leveraged ETH buyer who entered on Sep 9 at an average of $4,396.5 sold 3,443 ETH at a $3,754 average over the past 6 hours for roughly $12.92 million, realizing about $2.212 million in losses, with the remaining Sep 9 ETH still showing an unrealized loss of about $3.122 million, source: @ai_9684xtpa. The wallet 0xc26b5977c42c4fa2dd41750f8658f6bd2b67869c currently has 13,000 ETH posted as collateral on Aave and $34.19 million in stablecoin debt with a health factor of 1.2, indicating elevated leverage, source: DeBank and @ai_9684xtpa. Aave documentation states positions are liquidated when the health factor falls to 1.0 or below, implying further ETH price declines could force additional deleveraging or trigger liquidations from this address, source: Aave Docs. Traders can monitor this wallet’s health factor and ETH order flow for potential sell pressure tied to on-chain leverage unwinds, source: DeBank and Aave Docs.

According to @OnchainLens, over the past three days a whale deposited $23M USDC into HyperLiquid to avoid liquidation on a 20x BTC short position valued at $249M. Source: Onchain Lens on X. The position currently shows a $21.5M unrealized loss but has received $7M in funding payments during the market rebound. Source: Onchain Lens on X. The position reference and wallet tracking are cited via the CoinMarketMan HyperTracker page mentioned by @OnchainLens. Source: CoinMarketMan HyperTracker.

According to @milesdeutscher, only use perps when you need capital efficiency or when you are hedging or farming; otherwise, stick to spot for cleaner carry. Source: @milesdeutscher on X, Sep 29, 2025. He warns that if you plan to hold a position for more than a week, especially a consensus trade, funding will erode returns on perps, making spot more cost-effective for swing holds. Source: @milesdeutscher on X, Sep 29, 2025. He adds that roughly 90% of perp setups should be long continuation or strength trades, highlighting how perps fit best with momentum rather than slow, crowded swings. Source: @milesdeutscher on X, Sep 29, 2025. He emphasizes spot’s no-liquidation benefit, noting it’s easier to sleep at night versus the liquidation risk embedded in leveraged perps; he is not anti-perps, but says they require a real edge and should not replace spot without a good reason. Source: @milesdeutscher on X, Sep 29, 2025.

According to @ai_9684xtpa on X and hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6, on-chain address 0x4016...5ACb6 shows roughly USD 984,000 in unrealized losses across five open positions. According to @ai_9684xtpa on X and hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6, PUMP records the largest drawdown at about USD 488,000. According to @ai_9684xtpa on X and hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6, the account’s cumulative profit has narrowed to approximately USD 6.862 million. According to @ai_9684xtpa on X and hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6, all five positions are currently in the red after the wallet opened longs following a public short call, yet margin remains ample and the positions are far from liquidation.

According to @lookonchain, Machi Big Brother’s long positions in ETH and PUMP show unrealized losses exceeding $21.77M amid the market drop, and he deposited $4.72M USDC into Hyperliquid over the past two hours to avoid liquidation (source: Lookonchain post on X dated Sep 25, 2025). The wallet and position context referenced by @lookonchain point to trader address 0x020ca66c30bec2c4fe3861a94e4db4a498a35872 on Hyperdash, corroborating the monitoring of this account’s margin actions (source: Hyperdash trader analytics for address 0x020ca66c30bec2c4fe3861a94e4db4a498a35872).

According to @ai_9684xtpa, Aster has enabled up to 300x leverage to long or short HYPE at the community’s request, indicating aggressive leveraged access for this token (source: @ai_9684xtpa on X, Sep 22, 2025). At 300x, even sub-1% adverse price moves can trigger liquidation without additional margin buffers, highlighting extreme risk for retail participants (source: Binance Academy, Leverage and Margin basics; CFTC Customer Advisory on leverage risk). Traders should monitor HYPE funding rates, open interest, and order book depth; elevated funding with rising open interest and thin liquidity can precede liquidation cascades and heightened slippage (source: Binance Academy, Perpetual Futures Funding Rates; CME Group education on Open Interest). Risk controls such as isolated margin, smaller position sizes, and hard stop-losses are prudent, as regulators warn leverage can cause rapid, total loss of funds (source: CFTC Customer Advisory on Virtual Currency Trading Risk).

According to Adrian (@adriannewman21), using leverage on crypto perpetual futures only makes sense in a regulated, efficient market or if one has insider access, highlighting elevated risk for retail traders in current market conditions. Source: Adrian (@adriannewman21), X, Sep 22, 2025. He states crypto remains highly unregulated and claims tokens such as $ASTER are controlled by insiders, making leveraged shorts especially vulnerable to rapid liquidations. Source: Adrian (@adriannewman21), X, Sep 22, 2025. He adds that most retail participants are not insiders, implying that degen-style perp leverage is misaligned with the actual information edge most traders possess. Source: Adrian (@adriannewman21), X, Sep 22, 2025.

According to @AltcoinGordon, he intends to short the top of $ASTER, asserting that what goes up must come down and warning that longs risk liquidation on a reversal. source: @AltcoinGordon on X, Sep 20, 2025 He states he expects to profit by fading strength at local highs, signaling a near-term bearish trading bias toward $ASTER. source: @AltcoinGordon on X, Sep 20, 2025 This post highlights a resistance-fade setup and cautions traders about crowding risk on the long side if momentum stalls. source: @AltcoinGordon on X, Sep 20, 2025

According to the source, altcoin perpetuals leverage has surged ahead of this week’s FOMC rate decision, and elevated leverage tends to magnify liquidation cascades during macro events, source: the source; Kaiko research. The Federal Reserve’s policy decision is scheduled this week and is the key macro catalyst crypto traders are positioning around, source: Federal Reserve; CME FedWatch. Traders should monitor funding rates, open interest, and liquidation heatmaps into the announcement because positive funding plus high OI have historically preceded larger intraday wicks in altcoins, source: Binance Research; CoinGlass. Common positioning adjustments into binary macro events include trimming net leverage, using protective stops, and hedging with options to cap downside tails, source: Deribit Insights; CME options education.

According to Phantom, margin management is now live on Phantom Perps, allowing traders to add margin to reduce liquidation risk and remove margin to free up capital; source: Phantom on X, Sep 15, 2025. This release gives users more control over position risk and capital efficiency directly within Phantom Perps; source: Phantom on X, Sep 15, 2025.

According to Lookonchain, wallet 0x5D2F is down over 8.6 million dollars on short positions in BTC and ETH as the market rebounded, source: Lookonchain on X, Sep 12, 2025. Lookonchain reports the whale deposited 8 million USDC to increase margin to avoid liquidation, source: Lookonchain on X; on-chain reference via Hypurrscan address 0x5D2F4460Ac3514AdA79f5D9838916E508Ab39Bb7 at hypurrscan.io/address/0x5D2F4460Ac3514AdA79f5D9838916E508Ab39Bb7. Current short exposure is 2,041 BTC approximately 236 million dollars notional and 500 ETH approximately 2.25 million dollars notional, source: Lookonchain on X.

According to @lookonchain, BTC rebounded above $116,000 as address 0xa523 sold 152 ETH (~$679,000) to add margin and closed part of his BTC short positions at a loss, to avoid liquidation (source: @lookonchain on X). According to @lookonchain, this trader has lost over $43.4 million in the past month and now ranks as the biggest loser on Hyperliquid, surpassing @AguilaTrades, @qwatio, and @JamesWynnReal (source: @lookonchain on X; trader data referenced via Hyperdash).