A short-lived rise in BTC triggered liquidations across Hyperliquid, with TradingBeats tracking roughly $65.6 million in BTC short liquidations on the platform. The largest hit came from an address starting with 0xec0b, whose 122.88 BTC short was forcibly closed in two rounds for about $10.165 million in liquidation volume.
The position had been opened on Sept. 4 at an average entry of about $81,335.9 and was held for roughly 17 days. It was liquidated at an average price near $82,720.7, meaning BTC had moved only about 1.7% above the entry cost, leaving a realized loss of around $170,200.
The same wallet still holds an ETH long. TradingBeats data showed the address had 7,007.8 ETH long positions worth about $18.951 million, with an average entry price of roughly $2,065.97 and an unrealized profit of about $4.473 million. The wallet had previously been running a long ETH, short BTC setup, resembling a relative-strength spread trade between the two assets. As BTC moved up quickly, the short side hit its liquidation threshold first, forcing the original structure apart.
A brief jump in BTC forced liquidations of about $65.6 million in BTC shorts on Hyperliquid, according to TradingBeats data published on Sept. 21.
The biggest liquidation involved an address beginning with 0xec0b. Its 122.88 BTC short was fully liquidated by the system in two rounds, with liquidation turnover of about $10.165 million, the largest wipeout recorded on the platform in this move.
The BTC short had been open for about 17 days
The BTC short was opened on Sept. 4 at an average entry price of about $81,335.9 and was held for roughly 17 days. The forced closure was executed at an average price of about $82,720.7. That means BTC had risen only around 1.7% from the trader's entry cost, resulting in a realized loss of about $170,200.
The ETH long remains open
The same address has not exited its ETH long. It is still holding a long position of 7,007.8 ETH, valued at about $18.951 million. The average entry price was about $2,065.97, and the position was showing an unrealized profit of about $4.473 million.
Spread structure was forced apart
Before the liquidation, the wallet had been running a long ETH and short BTC setup, a structure close to a spread trade on ETH strength relative to BTC. During BTC's short upward move, the short leg reached its liquidation line first, which forced the original paired trade to break apart.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
