A high-leverage BTC short position is nearing liquidation, with a size of $7.8 million.

BlockBeats news, October 12th, according to TradingBeats monitoring, the whale address 0x706d…1d6f on Hyperliquid holds a short position of 94 BTC, with a position value of approximately $7.88 million. The position uses 40x cross margin leverage, with an average entry price of approximately $83,517.2, and is currently at an unrealized loss of about $31,000.

This address previously built up long positions in BTC in batches, with the position size once expanding to approximately $6.6 million, then continuously reduced the position near $82,700 and completed the long-to-short flip. After turning short, the address continued to add to the position in the $83,300—$83,600 range, pushing the short position size to the current level within the past half hour.

The liquidation price of this position is approximately $84,530.5. Based on the BTC mark price of $83,845.5 in the above snapshot, if BTC rises another approximately 0.8%, it will hit the liquidation price.