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Whale Opens $87.67M Leveraged Bitcoin Short at $87,500 on Hyperliquid

A whale address labeled "Penision Fund" opened a 3x leveraged Bitcoin short position worth $87.67 million at an entry price of $87,500 over a three-hour period on Nov. 24, HyperInsight data show. The position carries a liquidation price of $119,000 and ranks second-largest among BTC holdings on Hyperliquid. Separately, the platform's largest BTC long holder (0xffb) maintains a $76 million position with an average entry of $93,900, currently showing an unrealized loss of $5.38 million. HyperInsight also noted that seven addresses opening positions exceeding $1 million in the past two hours were all long positions.
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