Bitcoin Whale Trims $90M Leveraged Short After Price Surge

A large Bitcoin whale has partially closed a highly leveraged short position on BTC after a brief price surge triggered stop-loss orders. The wallet, which begins with the address 0xff84, reduced its exposure by 200 BTC on Hyperliquid, realizing a loss of approximately $146,000, according to blockchain analytics firm EmberCN.

The trader had opened a 40x leveraged short of 1,600 BTC on the Hyperliquid exchange, a position worth over $100 million at the time. To manage risk, the trader placed 50 BTC stop-loss orders at prices ranging from the liquidation level up to $68,254.

The partial reduction lowered the trader's exposure, but the remaining position is still substantial. The wallet still holds a 1,400 BTC short position, valued at approximately $90.54 million, with a liquidation price of $64,998.