A whale trader opened a 40x leveraged long position on 200.8 BTC on Hyperliquid, giving the trade a notional value of about $12.75 million. The position was opened about one hour before the report, and its liquidation price was set at $55,380, according to monitoring by Onchain Lens. The same trader has generated $1.95 million in profit over the past 30 days. High leverage magnifies both gains and losses, making the liquidation level a key threshold if Bitcoin moves lower.