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A large whale on Hyperliquid is facing heavy losses in a short position. I saw that this address starting with 0x7f92 opened a short of 40.5 BTC overnight with 40x leverage, which was a position worth about $3 million. But in the past few hours, the market has moved against them.
Currently, this whale is experiencing an unrealized loss of up to 125%. Their remaining position is now only $1.82 million, and today's direct loss has exceeded $130,000. The most concerning part is that the liquidation price is only 0.5% away. In other words, if BTC moves a little higher, this entire position could be liquidated.
This is one of the biggest whales on Hyperliquid playing with such extreme leverage. Seeing cases like this, it seems that extreme leverage like 40x can be very risky.