$102.6 Million Whale Short Sells Bitcoin on Hyperliquid With 40x Leverage

An anonymous cryptocurrency whale has opened a massive short position against Bitcoin on Hyperliquid, a decentralized perpetual futures exchange. The trade, worth $102.6 million, was initiated with 2.44 million USDC and consists of 1,600 BTC with 40x leverage.

The entry price for the position is set at $64,202.4, slightly above the current market price of $64,013.71. The liquidation price is $64,888.97, meaning the position would be forcibly closed if Bitcoin's price rises to that level.

This move has drawn attention from traders monitoring large leveraged bets in the crypto derivatives market. While a single short does not necessarily predict market movement, the size of this position is notable.