TL;DR: Hyperliquid leviathan wallets hold $256.92M BTC longs vs $126.46M shorts, with only 2.1% liquidation risk. Their biggest exposure is ETH at $643M vs $383M BTC, while total longs are $889.97M vs $744.31M shorts. But 590 $1M+ PnL wallets are bearish, running $416.8M BTC shorts vs $207.3M longs, setting up potential squeezes as price decides.
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