Hyperliquid's largest BTC short position increases by $11.87 million, currently in rollover status, with a liquidation price near $92K

SerumDegen · 2026-01-22T14:24:13+00:00

Some users have increased their holdings by $11.87 million in BTC and ETH on the Hyperliquid platform, bringing the total short position to $276 million. The account's margin utilization has exceeded 100%, facing the risk of forced liquidation, which is worth monitoring.

SerumDegen

2026-01-22 14:24:13

Abstract generation in progress

【Blockchain Rhythm】Something interesting has happened. The address on Hyperliquid holding a large short position has taken action again—on January 22, it increased its BTC and ETH positions by another $11.87 million.

This guy is now in a rolling position, with margin utilization soaring to 106.5%, indicating that the account is over-leveraged, and risk is gradually accumulating. As of now, the total short position of this address has expanded to $276 million, involving five cryptocurrencies: BTC, ETH, HYPE, PEPE, and XMR.

From the position allocation, BTC shorts are the main component, accounting for 54%, with a liquidation price set at $92,315.4; ETH shorts account for 36%, with a liquidation price of $3,107.88. In terms of unrealized gains, the account is currently profitable, with floating gains reaching $5.62 million.

This scale of position and level of risk are worth paying attention to—if the market experiences sharp fluctuations, this address could face forced liquidation at any time.

HYPE-1.14%

BTC-3.33%

ETH-4.99%

PEPE-5.89%

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GasFeeCrier

· 01-25 07:47

This guy is really ruthless, still adding to his position. Isn't he afraid of liquidation?

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TaxEvader

· 01-22 19:27

This guy is really risking it all, with a margin rate of 106.5%, almost to the point of pulling his pants down.

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AirdropHunter

· 01-22 14:48

Still increasing the position, this guy has bet his entire fortune.

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HashBrownies

· 01-22 14:46

This guy is really fierce, still adding to his short positions. No, the margin ratio has already dropped below 106%, and he's still daring to continue lurking? The liquidation price is 92K—what is he betting on?

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OnChainDetective

· 01-22 14:42

ngl this margin ratio hitting 106.5% is textbook overleveraged behavior... based on historical data, we usually see liquidation cascades shortly after hitting these levels. wallet clustering analysis suggests this might be coordinated with other addresses, but hard to confirm without deeper transaction tracing

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BridgeNomad

· 01-22 14:28

ngl the 106.5% margin utilization on a $276m short is giving me serious bridge exploit vibes—one wrong liquidation cascade and this whale's getting rekt hard. seen this movie before, never ends well.

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