Mysterious Trader Opens $102.6M 40x Leveraged Bitcoin Short on Hyperliquid

A newly created wallet has opened a 40x-leveraged short position on 1,600 Bitcoin worth approximately $102.6 million after depositing 2.44 million USDC to decentralized perpetuals exchange Hyperliquid.

The wallet, identified as 0xff84, entered the position at $64,202 per Bitcoin. The trade carries a liquidation price of $64,888.97, according to on-chain trading data.

With Bitcoin trading at $64,144 at the time of the snapshot, the position was showing an unrealized profit of $93,577.

The identity of the trader behind the wallet has not been established. No additional information was immediately available on the reason for the trade or whether the position forms part of a broader hedging or directional strategy.

Source: Lookonchain