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I just saw something concerning on Hyperliquid. A whale opened a 40x short on BTC with 40.5 BTC (around 3 million dollars) this early morning, and things are getting ugly. The position has already suffered a partial liquidation of 1.19 million a few hours ago.
The most tense part is that the unrealized loss has already reached 125%, and the remaining balance is around 1.82 million dollars. The liquidation price is set at 75,119, almost where BTC is now (77.66K). In other words, only 0.5% away from this guy getting fully liquidated.
It's like watching an accident happen in slow motion. This is the biggest whale with a position worth millions of dollars closest to being liquidated on the platform. Address 0x7f92f504b03f52abc8243f7e7ef7a3444490bc23 for those who want to monitor. What a costly lesson this will be.