A Bitcoin long position was liquidated at $109,892, resulting in a $12.49 million loss. This liquidation occurred amid a sharp downward spike in Bitcoin's price, which led to significant losses for long traders. Over the past 24 hours, the total liquidation across the market reached $628 million, affecting more than 130,000 traders. Analysts speculate that the sell-off may have been triggered by a "dormant whale" who, after seven years, shifted their holdings to Ethereum. This entity still holds 67,118 BTC, valued at approximately $7.62 billion, on the blockchain.