An anonymous whale trader on the Hyperliquid platform has increased their margin by depositing 5 million USDC into a 40x BTC short position. The position now includes 4522.84 BTC, equating to approximately 380 million USD.
The activity is notable as it highlights the ongoing leveraged trading trends within the crypto sector. Traders and analysts are watching for potential impacts on Bitcoin’s price if the position is liquidated or closed.

Whale Trader Adds 5 Million USDC to Bitcoin Short

The Hyperliquid whale has added 5 million USDC to their existing 40x Bitcoin short position, raising their liquidation price to $86,593, according to ChainCatcher’s on-chain data. This follows the trader’s previous activity of closing 20 BTC and depositing 670,000 USDC margin.

“@ai_9684xtpa, On-chain Analyst,” The ‘Hyperliquid 50x leverage whale’ has deposited 5 million USDC to increase margin on their 40x BTC short position. The liquidation price has now been raised to $86,593.” Source

Market Speculations as Bitcoin Trades at $27,500

Implications include increasing the trader’s total margin to maintain their position amid Bitcoin price fluctuations. Currently, Bitcoin trades around $27,500, evidencing a challenging market environment for leveraged positions.

The industry response has been significant, with on-chain analysts like @ai_9684xtpa commenting on the potential market impact if this substantial short position is liquidated.

No official statement from Hyperliquid or major crypto influencers has yet emerged regarding the trade. For more updates, you can follow Lookonchain on this status.