A cryptocurrency whale address has significantly expanded its leveraged short position against Bitcoin with a $16.45 million increase executed through the HyperLiquid derivatives platform. This move brings the trader’s total Bitcoin short exposure to approximately $70.4 million, leveraged at 40x.
The position, equivalent to 138.9 BTC, currently reflects unrealized losses nearing $448,000 driven by Bitcoin’s price movements since its initial entry at $107,464.40. This substantial leveraged bet underscores the heightened volatility and advanced risk profile inherent in cryptocurrency derivatives trading.