$520M Bitcoin Short Sparks Frenzy on Hyperliquid Exchange
This aggressive move has not only captured the attention of the crypto community but also sparked coordinated efforts among traders aiming to trigger the whale’s liquidation.
The whale’s position, established at an entry price of approximately $84,040, faced a liquidation threshold at $85,300, a mere 1.5% price increase from the entry point. Recognizing the narrow margin, a group of traders, led by the pseudonymous CBB, sought to drive Bitcoin’s price upward to force a liquidation. Their concerted buying efforts briefly pushed Bitcoin’s price to $84,690, nearing the whale’s liquidation point. However, the whale responded by injecting an additional $5 million in USDC to bolster the position, effectively raising the liquidation price and averting immediate liquidation.
This episode underscores a growing trend in decentralized finance, where the transparency of on-chain data enables retail traders to identify and potentially counter large leveraged positions. Such dynamics were previously the domain of institutional players but are now accessible to a broader audience, reflecting a shift towards democratized market participation.
As of now, the whale’s position remains active, with Bitcoin’s price hovering around $83,602. The outcome of this high-stakes scenario continues to be a focal point for market participants, illustrating the intricate interplay between large-scale traders and the broader crypto community.
Editorial Team
Reporter at Coindoo
