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Trader 0x128e Opens $20.32 Million Bitcoin Short on HyperLiquid With 40x Leverage

According to Lookonchain (blockchain analytics platform), the trader deposited 499,900 USDC into HyperLiquid (crypto derivatives exchange) and opened a 250 Bitcoin short position on May 6.

BTC
USDC
HYPE

Summary

Lookonchain (blockchain analytics platform) reported that trader 0x128e deposited 499,900 USDC into HyperLiquid (crypto derivatives exchange) and opened a 250 Bitcoin short position valued at $20.32 million with 40x leverage on May 6. The reported liquidation price was $82,236.61. A short position is a bearish trade that profits if Bitcoin falls, while 40x leverage means a relatively small amount of capital controls a much larger position, increasing both potential gains and liquidation risk.

Terms & Concepts
  • Short position: A trade that seeks to profit from a decline in an asset’s price by betting that the market will move lower.
  • Leverage: The use of borrowed exposure to control a larger position than the trader’s posted capital, amplifying both gains and losses.
  • Liquidation price: The price level at which an exchange may forcibly close a leveraged position because the trader’s margin is no longer sufficient.