A Hyperliquid wallet identified as 0xff84, which previously built a Bitcoin short position of as much as 2,000 BTC worth about $125 million, has reduced the trade further after losses mounted. According to on-chain analyst ai_9684xtpa and data from Hyperscan cited in the newer report, the trader cut 1,200 BTC from the position at a loss and was later forcibly liquidated on 288 BTC in two tranches, leaving a 512 BTC short position still open. Since opening the trade on Aug. 5, realized losses were reported at more than $1.567 million in the older update, while the remaining 512 BTC short was valued near $33 million in the newer report and carried a liquidation price of $64,665.18. The trade had also reportedly earned about $229,600 in funding fees earlier.