According to ChainCatcher, in the past four hours, a major whale known for "rebalancing to go long 350 million USD worth of BTC positions" has fully liquidated its 3,846 BTC long position (approximately 350 million USD), incurring total losses of about 3.6 million USD. Previously, this whale had placed orders anticipating BTC to rise to 93,300 USD. After liquidating the position, the remaining 31.7 million USD in margin from the account has been fully withdrawn. This address is also a large holder of 30,060 stETH (valued at approximately 97 million USD) and has deposited 370 million USD worth of assets on the Aave platform. In the past few days, the whale has cumulatively deposited 35.5 million USD into Hyperliquid and opened a long position of 3,846 BTC on the previous day, with the position size reaching up to 350 million USD, making it the largest BTC long position on the platform.
Major Whale Closes $350M BTC Long Position, Withdraws $31M in Margin
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Summary
Whale activity on Hyperliquid saw a major whale close a 3,846 BTC long position (worth $350 million), incurring a $3.6 million loss. The position was opened with a bullish target of $93,300 for BTC. After liquidation, the whale withdrew $31.7 million in margin. The address holds 30,060 stETH ($97 million) and has $370 million in Aave deposits. Over the past few days, it deposited $35.5 million into Hyperliquid and opened the BTC long position. Margin trading activity remains intense amid volatile market conditions.
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