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Bitcoin whale exits 40x long on Hyperliquid, wiping liquidation marker
The wallet sold about $122 million of BTC across two phases and fully closed the position before price reached its listed $61,605 liquidation level.
CryptoSlate reports a public Hyperliquid wallet that held a highly leveraged 40x Bitcoin long fully exited on July 20, after briefly expanding its position to about 1,897 BTC. The wallet had a previously reported liquidation level near $61,605.
According to CryptoSlate, Lookonchain had flagged a 1,660 BTC position with a liquidation price around $63,123, and Hyperliquid's public account data later showed the wallet adding roughly 235 BTC early on July 20. The account then sold 903.48 BTC at an average price near $64,666, leaving about 994 BTC.
CryptoSlate says the wallet closed the remainder at 06:33 UTC at an average price of about $63,931, generating $63.56 million in closed trades and ending the position. A post-sale check showed the wallet was empty, effectively removing the $61,605 liquidation level before Bitcoin ever reached it.
CryptoSlate also noted that while public Hyperliquid liquidation levels can act as account-specific market markers, they are not fixed support levels. It added that substantial derivatives exposure remained elsewhere, with the account exit pointing to de-risking rather than a broad expansion of leverage.
Latest closeBitcoin $65,447.74 ▲1.2%