Newly Created Wallet Opens $38.6M Bitcoin Short Position at 20x Leverage on HyperLiquid

A newly created wallet deposited $3.45 million USDC to HyperLiquid and opened a 20x leveraged short position on Bitcoin valued at $38.6 million on Dec. 2, on-chain data show. The position has an average entry price of $86,373.6 and a liquidation price of $92,885.8.