Hyperliquid's Top BTC Whale Address Goes 40x Short, Betting on Bitcoin to Drop to $55k

BlockBeats News, March 2nd. According to on-chain analyst Ai Yi (@ai_9684xtpa), user folhas99 opened a 40x short position on BTC starting from February 28th when the market was dropping. They now hold 750 BTC (about $49.63 million), making it the largest BTC position on Hyperliquid. The entry price was $64,534, the liquidation price is $70,730, and they are currently at a unrealized loss of $1.187 million.

They placed a limit sell order at $55,000, aiming to take profit if BTC drops another $11,000.