A whale trader on Hyperliquid has built a highly leveraged Bitcoin short worth $103.3 million after depositing $2.441 million in USDC about a week ago, according to monitoring cited by Odaily. After multiple partial closes, the address now holds a short position of 1,625 BTC, while account equity stands at $2.432 million, implying leverage above 40x. The trader has also used unrealized profit and loss to increase the size of the position. The reported liquidation price is just 1.12% above Bitcoin's current market price, underscoring how narrowly the position is buffered against an adverse move.