How risky is a 40x leveraged long position on BTC with a large account showing a floating loss of $1 million?

【Crypto World】On the morning of January 19th, on-chain monitoring data showed that multiple leveraged positions within the account of a well-known crypto investor have collectively fallen into trouble. This holder once had an unrealized profit of over $1.3 million, but now, during the market decline, the overall unrealized loss has expanded to $1 million, marking a quite dramatic turn.

Specifically, the account’s position allocation is quite aggressive. The largest is ETH, with a 25x leverage long position of 10,400 ETH, currently with an unrealized loss of $260,000, with a liquidation price set at $3,102.12. Additionally, the address has heavily bet on HYPE, with a 10x leverage long position of 330,000 tokens, with an unrealized loss of $480,000, and a liquidation price of $20.39. Moreover, the 10x leveraged ZEC position, holding 5,200 coins, also did not escape unscathed, with an unrealized loss of $236,200, and a liquidation price of $125.70.

The most aggressive operation is the BTC position—40x ultra-high leverage, only long 11 BTC. Although the unrealized loss per position is relatively small ($29,300), such an extreme leverage ratio means any sharp volatility could trigger a liquidation. Judging from the aggressive leverage configuration and the extent of unrealized losses, this account is clearly betting on a major market move.