Crypto
Bitcoin Whale Faces $90 Million Loss in High-Stakes Short
A massive short position on Bitcoin has left an anonymous trader facing potential losses of $90 million. The 'whale' initially shorted 1,600 BTC at 40x leverage on Hyperliquid's decentralized exchange, but was forced to reduce the position after Bitcoin surged past $65K.
The trader cut 200 BTC from the short, locking in approximately $146K in realized losses. What remains is a 1,400 BTC short valued at around $90.54 million, with a liquidation price hovering near $65K.
The trade was funded by depositing 2.44 million USDC into a wallet with no prior on-chain history. The initial liquidation price sat at approximately $64,889, but the updated price now sits around $64,998 to $65,002.