A well-known cryptocurrency whale called “Air Force Commander” has returned to active trading after facing one of the biggest liquidations in recent crypto history. According to ChainCatcher, this whale recently lost nearly $199 million due to forced liquidations on multiple short positions. Despite this heavy loss, the whale has once again increased short positions across Bitcoin, Ethereum, Solana, and other cryptocurrencies.
This sudden comeback has caught the attention of traders and retail investors because the whale is again taking aggressive bets against the market using high leverage.
Who Is the “Air Force Commander” Crypto Whale?
The wallet address 0xd83, widely known in the crypto community as Air Force Commander, is one of the most aggressive and influential whale traders. This address has previously held the largest short positions across several major cryptocurrencies including Bitcoin, Ethereum, PEPE, and XRP.
Because of the massive size of its trades, every move by this whale creates strong market reactions and often increases volatility.
Whale Resumes Short Positions After Huge Liquidation
After suffering liquidations worth nearly $199 million, many expected the whale to stay quiet. Instead, the opposite happened. The whale has rolled over and expanded its short positions once again.
The total holding size has increased from $266 million to $305 million, showing strong confidence in its bearish strategy. In just 24 hours, the whale has already recorded a floating profit of around $2.6 million, indicating that the short-term market movement is currently favoring this strategy.
Bitcoin Short Position Details
The whale has increased its Bitcoin short position from $145 million to $150 million.
- Average entry price: $91,000
- Liquidation price: $91,800
This means if Bitcoin rises sharply above this level, the position could face liquidation again. The narrow gap between entry and liquidation shows how risky and leveraged this position is.
Ethereum Short Position Grows Further
Ethereum is another major target for the whale. The ETH short position has increased from $96.1 million to $106 million.
- Average price: $3,067
- Liquidation price: $3,061
The liquidation price being close to the entry price shows the whale is using aggressive leverage and expects ETH price weakness in the near term.
PEPE Short Position Expansion
The whale has also increased its short exposure to the meme coin PEPE.
- Position size: $19.3 million
- Average price: $0.0049
- Liquidation price: $0.0058
Earlier, the PEPE short position was around $13.3 million, showing a strong increase in bearish confidence toward high-risk altcoins.
New 20x Leveraged Short on Solana
One of the most interesting moves is the opening of a new 20x leveraged short position on Solana.
- Position size: 123,000 SOL
- Total value: $15.86 million
- Average price: $127.9
- Liquidation price: $157
Using 20x leverage is extremely risky. Even a moderate price jump in Solana could trigger liquidation, but if SOL drops, profits can increase very fast.
What Happened During the $199 Million Liquidation Event?
On January 22 around 3:30 AM (UTC+8), the whale faced liquidations across five different crypto positions. The total liquidation value reached nearly $200 million, and the whale reportedly suffered a loss of more than $20 million.
At that time, this wallet was holding nearly $500 million in short positions and was the largest short holder in several cryptocurrencies.
This event caused sharp market volatility and short-term price spikes as forced buybacks pushed prices higher.
Why Is This Whale Still Shorting After Such a Big Loss?
There are a few reasons why a whale would continue shorting even after massive losses.
First is high conviction. The whale likely believes the market is overvalued and expects a correction.
Second is hedging strategy. Large players often short to protect other holdings or manage risk.
Third is experience and capital strength. Unlike retail traders, whales can survive large drawdowns and continue trading aggressively.
What This Means for Retail Investors
This situation is a clear reminder that the crypto market is highly volatile and heavily influenced by whales. When large players take aggressive leveraged positions, sudden price swings become more common.
Retail investors should avoid emotional trading and high leverage. Whale activity can cause short-term moves, but it does not always define the long-term trend.
Key Takeaways
- A major crypto whale has returned after a $199 million liquidation
- Short positions have increased across Bitcoin, Ethereum, PEPE, and Solana
- Total holdings are now around $305 million
- High leverage increases both profit and liquidation risk
- Whale actions increase volatility but do not guarantee market direction
Final Thoughts
The return of the “Air Force Commander” whale shows how aggressive and high-risk professional crypto trading can be. While the whale is currently in profit, the narrow liquidation levels mean danger is still high.
For retail investors, this is not a signal to copy whale trades. Instead, it is a lesson in risk management, patience, and understanding that whales play a very different game.
Staying informed is smart. Chasing leverage is not.