An individual address has initiated a 40x short position on BTC on Hyperliquid, with a position size exceeding $100 million.

BlockBeats News, August 5th, according to LookIntoChain monitoring, a newly created wallet address 0xff84 deposited $2.44 million USDC into Hyperliquid and opened a 40x leverage Bitcoin short position.

The data shows that the trader's short position reached 1600 BTC, with a notional value of approximately $102.6 million, and a liquidation price of $64,888.97.

It is currently unclear whether the trader is privy to market information or is solely taking a high-risk directional bet. High-leverage shorts may face rapid liquidation risk during intensified market volatility.