An anonymous trader on Hyperliquid partially closed a $114.4 million Bitcoin short position as rising prices threatened forced liquidation. The 40x leverage left a margin of only 0.35% before complete liquidation. Approximately 250 BTC were sold, resulting in a realized loss of about $33,400. The remaining position of 1,543 BTC, valued at $98.97 million, stays exposed to liquidation risk if Bitcoin’s price exceeds $64,225. This move illustrates the growing pressure on large short positions as Bitcoin trends upward.
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