Bitcoin Whale Establishes $445 Million Short Position on Hyperliquid
Bitcoin rebounded to its 200-day moving average after dropping to $76,606 but remains below this critical level. A whale has taken a significant contrarian stance by opening a highly leveraged short position on Bitcoin perpetual futures through Hyperliquid.
Key Details of the Whale's Short Position
- Position valued at over $445 million with 40x leverage
- Liquidation price set at $85,940
- Unrealized gain reported at $4.4 million
- Whale had to deposit $5 million USDC to maintain margin
- Current position stands at 5,406 BTC ($449M)
A trader known as CBB formed a group to target this whale's position. Despite their efforts, which briefly drove BTC above $84,690, the whale managed to retain profitability by adjusting positions through Twap.
Hyperliquid emphasizes transparency in high-leverage trading, highlighting its role in this scenario. The platform gained attention following a previous incident involving liquidation arbitrage that impacted its HLP vault.
At press time, BTC is trading at $83,455.
