Hyperliquid Whale Builds $32.36M Leveraged BTC Short at 13x

ChainCatcher reports that a large trader on Hyperliquid is holding a 391.48 BTC short position worth about $32.36 million, with an average entry price of $82,863.10. The account shows $7.19 million in equity and is using full-margin mode with 13x leverage; the liquidation price is $99,801.20. According to Hyperbot, the account has placed 4,726 trades in total. Over the past week, it generated $952,200 in perpetuals profit and recorded a maximum drawdown of 11.03%. At the latest update, the position was showing an unrealized gain of roughly $75,500, while accumulated funding fees totaled $64,249.75. The position appeared on the one-year anniversary of the major crypto liquidation event on Oct. 10, 2025. Hyperliquid's BTC open interest stands at around 38,040 BTC, putting this account at roughly 1% of total open interest. Coinglass data suggests that if Bitcoin climbs to $85,000, about $3.3 billion of short positions could be liquidated. Polymarket shows a 27.5% chance that Bitcoin hits $100,000 before Dec. 31, 2026. Spot Bitcoin ETFs posted net inflows of $21.13 million, led by BlackRock's IBIT.