Gate News message, April 27 — A major whale on the decentralized derivatives platform Hyperliquid is facing imminent liquidation, with its $13.8 million short position in Bitcoin now underwater 54%. The address 0xbac2d8e1e3ef8cba378564667be59a2e2d8ed897, holding approximately 175 BTC, opened a 40x leveraged short yesterday at 10 p.m. (April 26) at an average entry price of $77,915, just before this round of price appreciation began.
The whale's liquidation price is set at $80,929. The position has already incurred significant losses as Bitcoin moved against the short bet. To mitigate further damage, the whale has placed a market buy order to close the position if BTC retraces to $78,129.
