Hyperliquid Whale Holds $32.36 Million Bitcoin Short at 13x Leverage

A whale on Hyperliquid holds a $32.36 million short position in Bitcoin (BTC), using 13x leverage as the cryptocurrency market approaches the anniversary of a major liquidation event.

The position covers 391.48 BTC at an average entry price of $82,863.10. It uses cross margin and has a liquidation price of $99,801.20, while the account has $7.19 million in equity.

As of 3:46 a.m. ET (07:46 UTC) on Oct. 10, the position was showing an unrealized profit of about $75,500. Funding fees totaled $64,249.75.

The account had completed 4,726 trades and generated $952,200 in perpetual-futures profit over the previous week, with a maximum drawdown of 11.03%. The position amounted to about 1% of the roughly 38,040 BTC in open interest on Hyperliquid’s Bitcoin market.

The trade appeared one year after the large-scale crypto liquidation event on Oct. 10, 2025. A move in Bitcoin to $99,801.20 would reach the position’s stated liquidation price.