BIT’s giant whale opened 18x leverage at an average price of 2270; now it’s in a floating loss of almost 20 million dollars, and it nearly got liquidated over the weekend—familiar recipe.

Hyperinsight says that the BIT-related whale holds approximately 120,000 ETH across four addresses on Hyperliquid, with an average entry price of about $2,270, leverage of around 18x, a total position of $252 million, and a current unrealized loss of about $19.3 million. Over the weekend, ETH fell to $2,000 at one point, temporarily widening the unrealized loss to $27.2 million, before converging again. This address belongs to BIT (formerly Matrixport). Previously, it went long on ETH in the scale of several hundred million, earning profits of over $50 million.