Massive Bitcoin Short Bet Placed via Hyperliquid

A large short position has been opened on Bitcoin via Hyperliquid, a platform known for its high-leverage trading. A wallet deposited $2.44 million in USDC and took a 40x short on 1,600 BTC, with the trader controlling a notional exposure of roughly $97.6 million.

This is not an isolated event; Hyperliquid has developed a reputation as the go-to platform for large, leveraged trades. In fact, high-leverage Bitcoin shorts and longs at the 40x ceiling have become a regular feature of the platform's activity feed since 2025.

With this trade, the market is now aware of a massive short position that could get liquidated at a specific price above entry. If the market rallies and multiple large shorts get liquidated in sequence, it can create significant buy pressure from forced covering, potentially accelerating the upside move.