A major Bitcoin whale, identified by the address starting with 0x4b6, has experienced significant liquidations totaling $11.46 million over the past two hours, according to Hyperinsight Monitoring. The largest single liquidation amounted to $3.08 million, marking the address as the second largest in terms of single liquidation amounts on the network in the last six hours. The address initially went long with a principal of $1.7 million on January 19th, but its funds have now plummeted below $50,000, resulting in a total loss of $1.64 million today. The 40x leveraged BTC position was liquidated by 158 coins, approximately $11.22 million, leaving a remaining position size of $3.98 million and a floating loss of $0.49 million. The loss rate stands at -492%, with the next liquidation price just 0.54% away at $70,574. Additionally, a 25x leveraged ETH position held by the same address was nearly wiped out, previously reaching a floating loss of -1134%, over 11 times the principal.