Hyperliquid Whale Opens 888.8 BTC Short at 40× Leverage, Liquidation Trigger at $105,689

- Massive 40× Leveraged Short on Hyperliquid Exchange - 888.8 BTC, Approximately $92.93 Million [Unblock Media] At 09:53 UTC on May 12, an anonymous “whale” opened a 40× leveraged Bitcoin short position on the Hyperliquid exchange. The trade size was 888.8 BTC—about $92.93 million—making it the largest bearish bet in the past month. The whale borrowed 40 times its margin to short Bitcoin, effectively selling coins it did not own in anticipation of a price drop. In everyday terms, it’s like using your car as collateral to borrow forty times its value, selling that amount now so you can buy it back later at a lower price. If the market turns against you, losses multiply. Should BTC fall to $105,689, Hyperliquid will automatically liquidate the position to protect its lenders. Such gigantic shorts often trigger fear among smaller investors. When a high-net-worth trader places a huge bet on a decline, retail participants may follow suit—intensifying selling pressure in a self-fulfilling prophecy. Conversely, if Bitcoin rises past the liquidation threshold, forced buy-ins can spark a rapid rebound. Traders should watch the $105,600–$106,000 range closely. A break below could trigger stop-losses and margin calls, prompting further selling. A sustained move higher, however, risks a “short squeeze” as that massive position is unwound. In either scenario, BTC volatility is likely to surge.