- Hyperliquid wallet's ETH long fully liquidated — $1.08M loss confirmed
- Same wallet holds 1,355.6 BTC ($110.85M) long on Hyperliquid with liquidation price at $80,035.70
- Stop-loss set at $80,500 — just $464 above forced liquidation, creating a razor-thin buffer
- Original combined position totalled $186.7M across BTC and ETH at maximum leverage
BREAKING
A single wallet on Hyperliquid had its Ethereum long position forcibly liquidated, booking a $1.08 million loss — while the same address continues to hold a $110.85 million Bitcoin long that sits less than 4% above its stop-loss trigger.
The wallet had previously built a combined position book of $186.7 million across both assets — 1,822 BTC ($149.5M) and 15,270 ETH ($37.25M) — all at maximum leverage on Hyperliquid’s perpetuals market.
The ETH Leg Is Gone — BTC Leg Is Next in Focus
The ETH position carried a liquidation price of $2,406.08. That level was breached, triggering full liquidation and crystallising the $1.08M loss. The ETH side of the trade no longer exists.
What remains is the Bitcoin position: 1,355.6 BTC worth $110.85 million at the time of reporting, with a liquidation price set at $80,035.70. The wallet has placed a stop-loss at $80,500 — meaning the position would be manually closed before forced liquidation triggers, assuming the stop executes as intended on Hyperliquid’s infrastructure.
| ETH Long | 15,270 ETH | $37.25M | $2,406.08 | — |
| BTC Long (active) | 1,355.6 BTC | $110.85M | $80,035.70 | $80,500 |
Why This Position Size Matters for Market Structure
A single $110.85 million leveraged BTC long on a perpetuals venue is not a retail trade. Positions of this scale create visible liquidation clusters that market makers and algorithmic traders actively track. The $80,035–$80,500 band is now a publicly known liquidation and stop zone — which itself becomes a target in low-liquidity conditions.
This dynamic is directly relevant to the broader altcoin market structure. As covered in our analysis of TOTAL2’s falling wedge breakout and mid-November C-wave risk, leveraged long positioning at inflated notional sizes tends to amplify downside when stops cluster near the same level. A sweep of $80,500 on Bitcoin would cascade into altcoin deleveraging simultaneously.
It is also worth contextualising against the broader whale cohort. Our earlier report on new Bitcoin whales holding one-third of whale realized cap at a $77K cost basis established that significant on-chain demand exists below current prices — but that structural support sits well below the $80,500 stop level this wallet is defending.
Is the Remaining Position Sustainable?
The critical variable is Bitcoin’s spot price relative to $80,500. If BTC holds above that level, the position survives. If BTC trades through it, the stop-loss closes 1,355.6 BTC worth of long exposure in a single execution — a market order of that size on a perpetuals venue will move price, not absorb it quietly. The liquidation backstop at $80,035.70 sits just $464 below the stop, compressing the safety margin to near zero.
The metric to track is real-time BTC spot price against the $80,035–$80,500 cluster. The address tracker will reflect any position change the moment it occurs.
The ETH liquidation has already confirmed that this wallet’s risk management failed once. The BTC leg — $110.85 million still open — is the last remaining exposure. Watch $80,500 as the trigger level: a close below it either forces a manual stop-out or risks a cascade liquidation at $80,035.70.
Frequently Asked Questions
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