7 addresses place $42M in BTC sell orders between $83,400 and $85,112

Huo Xing Finance reports that on October 23, according to TradingBeats monitoring, BTC is currently trading at approximately $81,850. On Hyperliquid, seven key addresses placed 90 limit sell orders today between $83,400 and $85,112, totaling approximately 510.22 BTC with a notional value of about $42.896 million—just 1.9% to 4.0% above the current price. These sell orders primarily reflect long positions being preemptively closed. Specifically: $30.846 million in “only reduce position” sell orders: originating from five long addresses, intended to reduce existing long positions after the price rally. $5.349 million in standard sell orders at $83,583: aimed at selling 64 BTC, corresponding to an existing long position of 124 BTC; if the position remains unchanged, execution would reduce the position by approximately 51.6%. $6.701 million in short-opening sell orders at $83,700 and $83,820: corresponding to accounts with no current BTC position, planning to establish an 80 BTC short position following a rebound. The largest group of position-reducing orders is concentrated between $83,500 and $85,000, covering 150 BTC—approximately $12.638 million—accounting for about 29.5% of the total value in this range. Additionally, there is another $8.365 million in “only reduce position” sell orders at $84,666.