New Wallet Opens $6.22M Bitcoin Long with 40x Leverage on Hyperliquid

A newly created crypto wallet has taken a $6.22 million leveraged bet on Bitcoin, putting up $153,000 on Hyperliquid to open a 40x long position, according to blockchain analytics platform Lookonchain.

The wallet, identified by the prefix 0x1469, accumulated a 97.92 BTC position at an entry price of $63,566.90. The high leverage leaves the trade with a liquidation price of $62,825.14, about $742 below its entry level. 

Bitcoin was trading at $63,497 when Lookonchain reported the position, placing the cryptocurrency slightly below the trader’s entry price. Lookonchain nevertheless showed the position with a PnL of $6,853 at the time of the update.

Source: Lookonchain