A whale went long on the "buying the dip" after James Wynn's liquidation, facing a realized loss of $17.08 million

BlockBeats News, June 6th. According to Ashes Monitor, a whale engaged in a tactic known as "buying the dip" after a liquidation event in James Wynn's position, regaining $17.08 million in profit through a liquidation cascade that occurred two and a half hours prior.

The whale executed this strategy twice after liquidation events in James Wynn's position, going long on both BTC and ETH. The strategy involved capitalizing on the liquidation event: he opened a long position right after James Wynn's position was liquidated yesterday at midnight, and added to his position after James Wynn's position was liquidated and closed today at 1 a.m.

However, as the price continued to drop, he chose to cut his losses and close his position two and a half hours ago. This decision resulted in a $17.08 million loss on this particular long trade. Following this profit-taking event, his profits in the last 21 days have decreased from $30 million to $13 million.