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A major player has shorted 750 BTC with 40x leverage and is currently facing a paper loss of $1.187 million.
Svmuu News: According to crypto analyst Ai @ai_9684xtpa, user folhas99 opened a 40x BTC short position on February 28 during the market downturn. Currently holding a position of 750 BTC, with a position size of approximately $49.63 million, making it the largest BTC position on the Hyperliquid platform. The opening price was $64,534, with a liquidation price of $70,730, resulting in a current unrealized loss of approximately $1.187 million. On-chain data shows that this address has placed a limit sell order at $55,000; if the price drops by approximately $11,000, the position will be closed for a profit.
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