Whale wallet 0xc613 deposited 2 million USDC into HyperLiquid and opened a Short BTC order with 40x leverage, a notional size of $33.24 million, which could increase short-term volatility.
This move comes as the BTC market is experiencing intense tug-of-war between buyers and sellers. A large, highly leveraged Short position could impact liquidation and price volatility in the short term.
- Wallet 0xc613 deposited 2 million USDC into HyperLiquid.
- Opened a Short BTC position with 40x leverage, shorting 358.85 BTC.
- The notional value of the position is $33.24 million, with increased risk of volatility.
Whale trade: Short BTC 40x on HyperLiquid
According to Lookonchain, wallet 0xc613 deposited 2 million USDC into HyperLiquid about an hour ago and opened a Short BTC position with 40x leverage.
The short selling volume is 358.85 BTC, with a notional value of the position reaching $33.24 million. The 40x leverage makes the position more sensitive to price fluctuations and could put pressure on the market if unfavorable price movements occur, triggering the exchange's risk management mechanism.
The deployment of high leverage by a large trader is often closely watched by the market because it can trigger a chain reaction from opposing orders, especially when liquidation changes rapidly during periods of volatility.
BTC market context and short-term impact
BTC is currently in a fierce competition between bulls and bears, and highly leveraged Short positions could lead to more significant short-term volatility.
In the context of this tug-of-war, a notional position of $33.24 million could contribute to amplifying price fluctuations if the market reacts by sweeping liquidation in both directions. This signal is primarily short-term, reflecting the willingness of whales to accept risk when betting on a downward trend for BTC.
