BlockBeats News, May 18, according to Hyperinsight monitoring, address 0x860 has now become the largest underwater whale among BTC long positions on Hyperliquid. This whale bottomed BTC 220 days ago, specifically on October 11 last year, after the market crash, entering with a 29x leverage position at an average price of $109,632, with a position size of $13.2 million.
Initially, this long position brought significant unrealized gains to the whale within 10 days. However, since BTC fell below its average entry price on October 30 last year, the position has never returned to break-even. As of the time of writing, the whale has still not closed the position and has been holding on, with the current unrealized loss reaching $3.94 million, approximately 12 times the initial investment.
Estimates indicate that considering the multimillion-dollar overall fund size of this address, the $13.2 million position corresponds to an actual leverage ratio of only about 1.1x. However, the unrealized loss has already eroded about 30% of its total funds.
Address: 0x8607a7d180de23645db594d90621d837749408d5
