According to @PeckShieldAlert, a whale address 0xceef...ba42 that supplied WBTC on Compound to borrow USDT and DAI was liquidated for 6.67 million dollars as BTC fell below 100K dollars, source: PeckShieldAlert on X, Nov 14, 2025. The structure reflected a leveraged long on WBTC by borrowing stablecoins against WBTC collateral, and the drop in collateral value triggered liquidation, source: PeckShieldAlert on X, Nov 14, 2025 and Compound Finance documentation. On Compound, liquidation occurs when an account health factor falls below the liquidation threshold, enabling liquidators to repay debt and seize collateral with an incentive, which explains the execution of this 6.67 million dollar unwind, source: Compound Finance documentation. The size of this liquidation signals immediate on-chain deleveraging in WBTC-linked positions at the time of the BTC price drop, source: PeckShieldAlert on X, Nov 14, 2025.