Whale Opens $102.6M Bitcoin Short on Hyperliquid With 40x Leverage

BitcoinWorld Whale Opens $102.6M Bitcoin Short on Hyperliquid With 40x Leverage An anonymous cryptocurrency whale has opened a massive $102.6 million short position against Bitcoin on the decentralized perpetual futures exchange Hyperliquid, according to blockchain tracking platform Lookonchain.

The move has drawn attention from traders monitoring large leveraged bets in the crypto derivatives market. Trade Details and On-Chain Data Lookonchain reported that the wallet address, beginning with 0xff84, deposited 2.44 million USDC into Hyperliquid to initiate the short.

The position consists of 1,600 BTC with 40x leverage, placing the entry price at $64,202.4. The liquidation price is set at $64,888.97, meaning the position would be forcibly closed if Bitcoin’s price rises to that level.

At the time of the trade, Bitcoin was trading at $64,013.71, up 1.1% over the past 24 hours, according to CoinMarketCap. This places the entry price slightly above the market price, suggesting the whale anticipated a near-term price decline.