Whale Trims $90M Leveraged Short as Bitcoin Price Surge Triggers Stop-Loss Orders

A high-leverage short position on Bitcoin held by a cryptocurrency whale has been partially closed after a brief price surge triggered stop-loss orders. The wallet, starting with 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. The wallet faced a liquidation price of $64,889, meaning a rise in Bitcoin's price to that level would have forcibly closed the entire position.

The whale had placed 50 BTC stop-loss orders at prices ranging from the liquidation level up to $68,254 to manage risk. When Bitcoin briefly climbed above $65,000, four of these stop-loss orders were filled, reducing the short by 200 BTC and lowering the trader's exposure.

Although the position was partially closed, the remaining 1,400 BTC short still holds significant value, approximately $90.54 million, with a liquidation price of $64,998.