A Bitcoin whale opened a massive 40x leveraged short position on the decentralized exchange Hyperliquid, betting against 1,600 BTC worth approximately $102.6 million in notional value. After Bitcoin surged past $65,000, the trader was forced to trim 200 BTC from the position, locking in approximately $146,000 in losses. The remaining short now stands at 1,400 BTC, valued at around $90.54 million, with a liquidation price hovering between $64,998 and $65,002. The trade was funded by depositing 2.44 million USDC from a wallet with zero prior on-chain history. Hyperliquid, a decentralized perpetuals exchange offering extreme leverage without KYC requirements, has become the venue of choice for high-stakes traders seeking to avoid centralized exchange restrictions.
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