Key Highlights
- Andrew Tate was reportedly liquidated 8 times in under 24 hours while trading Bitcoin on Hyperliquid using high leverage.
- His trades flipped between long and short positions, but market volatility repeatedly triggered forced liquidations.
- The losses happened during a Bitcoin crash linked to a Fed rate decision, which caused widespread liquidations across the crypto market.
Andrew Tate, a former kickboxing champion and social media personality, has reportedly been liquidated eight times on the Hyperliquid crypto trading platform within the past 24 hours, according to Arkham Intelligence.
The liquidation happened during a period of heavy Bitcoin price swings caused by a U.S. Federal Reserve FOMC meeting, where sudden market moves forced many traders out of their positions. Tate entered the market using leveraged Bitcoin trades, but price changes quickly wiped out his positions again and again.
$3.8M Bitcoin long quickly goes wrong
According to Arkham Intelligence, Tate first deposited about $100,000 into his Hyperliquid account. After that, he opened a very large Bitcoin trade worth around $3.8 million, betting that Bitcoin would trade to the upside.
But the market moved against him, and the trade was automatically closed by the platform to stop further loss. After that first loss, he tried again by opening a short trade worth about $1 million, meaning he was now betting that Bitcoin would fall. That also failed.
However, he didn’t stop there. He kept switching between buying and selling, trying to catch the market. But the price movement was too volatile and too unpredictable. Each time the market moved against his position, the system closed his trade automatically.
This reportedly happened around eight times in a short period, roughly 16 to 24 hours. Following these forced exits, his account balance dropped to about $14,000 before adding more money.
Fed decision triggers market shock
This happened during a wider market crash caused by the Federal Reserve meeting. On Wednesday, the Fed announced that it is keeping the interest rates unchanged, fourth time in a row. Although this was expected, the market still reacted to the news.
Bitcoin dropped below $65K immediately after the news, while its market cap dropped to around $1.29 trillion. At the time of this writing, the cryptocurrency is trading for $63,709, down 2.3% in the last 24 hours from an intraday high of over $66K.
Trading activity has increased by 31%, but currently, price action suggests that these are just traders selling the market.
As a result, over $121 million was liquidated from the market, with $81.64 from the amount coming from traders who had bet on the price going up, according to data from Coinglass.
Tate’s high-risk trading
Tate’s case stood out because of his trading history. He has reportedly been liquidated more than 100 times in the past. That means this is not a one-time mistake, but a repeated pattern of high-risk trading. He is known for using large leverage, which means borrowing money to increase trade size.
While this can increase profits, it also increases losses massively when the market moves the wrong way. Just yesterday, Lookonchain reported that he placed a long position of about 57.36 BTC, worth around $3.76 million. The trade had a liquidation price near $65,216.
Liquidation in crypto is simple but brutal. When someone uses leverage, they are borrowing money to trade bigger. If the market moves too far against them, the exchange closes the trade automatically so the debt does not grow. Hyperliquid is a platform that allows this type of high-risk trading, especially in Bitcoin futures, where price moves can quickly turn into large gains or losses.
Meanwhile, Tate’s involvement in crypto goes beyond trading. He has promoted crypto projects in the past, including meme coins like Daddy Tate (DADDY).
Some of these projects later faced criticism and accusations of insider trading or poor transparency. He has also been linked to crypto asset seizures during legal investigations in Romania in 2023, where authorities reportedly took Bitcoin wallets connected to him.
Also Read: Strategy’s Bitcoin Empire Under Pressure: MSTR Slide 5% Amid Growing Scrutiny on STRC
