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Smart money increased the position of a 40x short order on Bitcoin, getting on board at an average price of $117,700.
According to BlockBeats news on July 12, on-chain data shows that a certain smart money increased the position of a 40x Bitcoin short order on Hyperliquid 20 minutes ago, with its current Bitcoin short position valued at 17.865 million USD, and the average entry price reaching 117,700 USD. The address currently holds multiple mainstream token short positions on Hyperliquid, such as a 25x ETH short valued at 15.34 million USD. The address has accumulated profits of 34.25 million USD, but has lost 4.2 million USD in the past 7 days.