$102M Whale Short Sells Bitcoin on Hyperliquid with 40x Leverage

An anonymous cryptocurrency whale has taken out a massive $102.6 million short position against Bitcoin on Hyperliquid, according to blockchain tracking platform Lookonchain.

The trade consists of 1,600 BTC with 40x leverage, placing the entry price at $64,202.4. The liquidation price is set at $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. Large leveraged positions on decentralized exchanges can influence market sentiment and amplify both gains and losses.