Hyperliquid Trader Closes $800 Million BTC Position Amid Rising Profits

A large Bitcoin trader known as Hyperliquid has closed another significant position in the cryptocurrency market. The trader, which is considered one of the largest long traders on the market, closed an $800 million BTC position worth $64.4 million just four hours ago.

This move brings down the total value of the position to around $80 million, with only one address still holding 1,000 BTC open. In a remarkable display of profit-taking, this trader has realized over $61.7 million in profits over three days by exiting a combined 120,000 ETH and 2,000 BTC positions.

The current Bitcoin price is testing the upper Bollinger resistance at $80,313.19, while the RSI(14) indicator flashes an overbought reading of 70.26 and the MACD prints a bearish death cross. Given these indicators, it's possible that we may see a healthy retracement towards the EMA50 support at $73,883.13 before further continuation.