$50M Bitcoin Short on Hyperliquid Sits $400 From Liquidation at 40x Leverage

A high-stakes trade on Hyperliquid has put $50.7 million at risk as a Bitcoin short sits just $400 from liquidation at 40x leverage.

The notional value of the short position, which uses cross margin, is approximately $50.75 million, and the entry price was around $64,212. The mark price currently stands at about $65,046, with a liquidation price of $65,454.

This means that a small price increase in Bitcoin could trigger a forced close, resulting in the trade's loss. The high leverage used in this position compresses the distance between it and its liquidation to a razor's edge, leaving little room for error.