Crypto Whale Opens $31 Million 40x-Leveraged Bitcoin Short on Hyperliquid

A crypto wallet identified as “0x77ee” has opened a 40x-leveraged Bitcoin short position worth $31.08 million on Hyperliquid, betting on a decline in the cryptocurrency’s price.

The position covers 493 BTC, entered at an average price of $63,240.9, with a liquidation level set at $75,093. With Bitcoin currently trading near $62,068, the trade is showing an unrealised profit of approximately $554,423.

The latest position has increased the wallet’s bearish exposure, with short trades now accounting for 92% of its portfolio across 15 active positions. The wallet’s total exposure is $79.88 million, while its lifetime PnL is negative $5.71 million.

Source: Onchain Lens