A major ETH bearish whale was liquidated in a series of liquidations and has exited the market, nearly clearing a $31 million position.

ChainCatcher reports that due to a short-term surge of over 5% in ETH price, a whale position starting with address 0xa5e4 on Hyperliquid was liquidated in a chain reaction. The account balance dropped to only $170,000 at one point, but all remaining funds have now been withdrawn.

This liquidation resulted in a total loss of over $1.5 million, with a liquidation scale close to $30 million. The address had transferred about $1.7 million in principal to Hyperliquid 18 hours ago, then opened a short ETH position at an average price of $1,940, with a peak position size of $31 million.