An anonymous whale using wallet 0xff84 built what Lookonchain and Ai Yi described as the largest visible on-chain Bitcoin short on Hyperliquid, with the position reported at roughly $125 million to $125.37 million and 40x leverage. The reported size differed slightly between trackers, at 1,900 BTC and 2,000 BTC, after Ai Yi said the trader added 258 BTC shortly before the update. The position was opened at about $63,581.5 to $63,582, with Lookonchain citing a liquidation price of $63,528.92. Unrealized profit was reported at about $1.79 million in the earlier tracker updates, while a Coinglass snapshot later showed the same address, 0xff84..1d, with unrealized PnL of $1.1031 million. Coinglass also showed Hyperliquid whale positions at $5.282 billion overall, with $2.702 billion in shorts, or 51.16%, versus $2.58 billion in longs, or 48.84%.