A certain spread trader is suspected of failing to adjust positions in time, resulting in the liquidation of a $10.16 million BTC short position.

BlockBeats news, September 21 - According to TradingBeats monitoring, a short-term surge in BTC forced a total of $65.6 million in short positions to be liquidated on Hyperliquid. Among them, a short position of 122.88 BTC held by an address starting with 0xec0b was fully forcibly closed by the system in two rounds, with a liquidation transaction value of approximately $10.165 million, marking the largest liquidation on the platform.

This BTC short position was established on September 4, with an average entry price of approximately $81,335.9, and was held for about 17 days. The average liquidation execution price was approximately $82,720.7, with BTC rising only about 1.7% from its entry cost, resulting in a realized loss of approximately $170,200.

Meanwhile, another ETH long position in the same address has not yet been exited. It currently holds a long position of 7,007.8 ETH, valued at approximately $18.951 million, with an average entry price of approximately $2,065.97, and unrealized profit of approximately $4.473 million.

This address had previously simultaneously gone "long ETH, short BTC," approximating a spread trade on ETH's relative strength versus BTC. However, during the short-term upward movement of BTC, the short side was the first to hit the liquidation line, and the original combination was forced to be broken apart.