Whale Places New Short Order for $102 Million in BTC, First Liquidation Price Just $23.5 Away

BlockBeats News, August 5th, according to TradingBeats (formerly Hyperinsight) monitoring, a new address starting with 0xff84 opened a 40x short position on 1600 BTC, with an average entry price of $64,202.4, and a position value of approximately $102 million.

This address has now placed 8 "reduce-only" stop-loss market buy orders, with each order planning to buy back 200 BTC, totaling to cover the entire short position. The latest action increased the first stop-loss quantity from 100 BTC to 200 BTC, with the trigger price set at $64,868, corresponding to a notional amount of about $12.974 million.

It is worth noting that the first stop-loss price is only $23.5 lower than the current liquidation price of $64,891.5, with a price difference of less than 0.04%. If BTC continues to rise, this address plans to close 12.5% of the position before the liquidation price, with subsequent stop-loss trigger prices gradually moving up, reaching a maximum of $67,023.

As of the time of writing, BTC is currently trading at around $64,202, with the short position near breakeven; the account equity is about $2.401 million, and it also holds about 2.47 million USDC in spot holdings.

On-chain analysis shows that the account has a clear temporary isolation transaction address feature. Currently, the funds are directly from the OKX hot wallet, and no other self-custody addresses controlled by the same entity have been confirmed.

Earlier today, the address received approximately 2.4436 million USDT0 and 0.9995 ETH from two OKX hot wallets, then exchanged them, and transferred about 2.4415 million USDC in two transactions to Hyperliquid. After the deposit, it quickly established the aforementioned 40x BTC short position and covered the entire position with 8 stop-loss orders.