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0x8d6 Whale Suffers $14.5 Million in BTC Liquidations on Hyperliquid

A leveraged Bitcoin position on Hyperliquid was partially liquidated after BTC fell below $75,000 on March 17, leaving the wallet with a 40x long still exposed near its liquidation threshold.

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Summary

A whale identified as 0x8d6 on Hyperliquid suffered three Bitcoin liquidations totaling 195.2 BTC, worth about $14.5 million, after Bitcoin dropped below $75,000 on March 17. The largest single liquidation was valued at $5.98 million. Despite the liquidations, the address still holds a 40x leveraged BTC long position worth $15.2 million, with a liquidation price of $74,120.

Terms & Concepts
  • Hyperliquid: A crypto trading platform focused on perpetual futures and leveraged trading, where traders can take large positions with posted collateral.
  • Liquidation: The forced closing of a leveraged position when losses approach the collateral threshold required to keep the trade open.
  • 40x leveraged BTC long: A bullish Bitcoin position opened with 40 times leverage, magnifying both potential gains and the risk of rapid liquidation.