A mysterious whale has grabbed attention by opening a huge $276.47 million long position on Bitcoin at 40x leverage on Hyperliquid, a decentralized perpetual exchange. According to on-chain data, the trade kicked off at a price of $103,129.8, with a tight liquidation point at $95,000. That means if Bitcoin price drops just a bit, the whole bet could be wiped out. The trade includes 2,670 BTC, making it one of the biggest single bets on-chain right now.
Leverage lets traders borrow money to make bigger bets. But with 40x leverage, even a small drop in price like 2.5% can wipe out the entire position. So, this whale is definitely taking a big gamble, betting hard that Bitcoin will keep climbing.
This whale’s wallet, tagged as 0x507..6ebd6, holds more than $43 million across other bets too. Besides Bitcoin, the whale is long on PEPE with $43.13 million at 10x leverage and XRP with $34.56 million at 20x leverage as well.
Earlier this year, another whale made a huge $524 million short bet on Bitcoin, also at 40x leverage. That bet was placed near $83,898, with liquidation just above $85,565. If the BTC price spiked past that, the whole short would be wiped out.
Right now, the Bitcoin price sits at about $103,094, down just 0.9% over the last day. Trading volume has dropped 21% to $37.42 billion, with a total market cap of $2 trillion, according to CoinMarketCap.
Also Read: Bitcoin Price will Hit $250K by 2025: Robert Kiyosaki
