$BTC this short is hanging by a thread… 😬 As Bitcoin pushed above $76K, this “Strategy’s Counterparty” whale is getting dangerously close to the edge. He’s currently holding a massive 1,031 #BTC short (~$77.65M position size) on ~36.9x leverage, and things are not looking good. Entry sits around $71,652, while the mark price is already up near $75,337, putting him at about -$3.79M unrealized loss on this position alone--roughly -195% ROE. The real danger is the Liquidation is sitting at $76,420.80… which is very close now. One more push up and this entire position gets wiped. Margin backing this trade is only about $1.94M, with funding slightly positive (~$41K earned), but that barely matters at this point. The size vs margin mismatch is huge. Digging out, the damage is even worse, his total PnL on Hyperliquid is now around -$42.12M, with account value sitting near $2.1M. So yes… this isn’t just one bad trade, it’s been a rough run overall. here is the address: 0x94d3735543ecb3d339064151118644501c933814 WE THINK: At this point it’s simple...either BTC cools off… or this position is gone.