According to on-chain analyst Ai Aunt (@ai_9684xtpa) on March 2, user folhas99 has opened a massive BTC short position on Hyperliquid worth $49.63 million since the market drop on February 28, making them the platform's largest BTC short holder.
The 40x leveraged short holds 750 BTC, with an entry price of $64,534 and a liquidation threshold at $70,730. The position currently shows a floating loss of $1.187 million.
Bearish Strategy Unveiled
Notably, the user placed a limit sell order at $55,000, signaling confidence in further BTC price declines and planning to exit at this level.
- Position Size: 750 BTC
- Entry Price: $64,534
- Liquidation: $70,730
- Take Profit Target: $55,000