Hyperliquid wallet exits $122M 40x Bitcoin long

On July 20 a public Hyperliquid account fully closed a 40x Bitcoin long after briefly expanding the position to about 1,897.74 BTC. The account exit removed a wallet-specific liquidation level that had been visible near $61,605.

The account had been valued at about $107 million on July 19. It increased a previously reported 1,660 BTC position by roughly 235 BTC early on July 20. The wallet sold 903.48 BTC at an average price near $64,666, leaving about 994 BTC. It closed the remaining BTC at 06:33 UTC at an average price near $63,931.

Across both sale phases the account sold roughly $122 million of Bitcoin at a combined average price near $64,281. The final trades filled no lower than $63,876. Nine minutes before the last sale the position still carried a listed liquidation price near $61,605 while the platform’s Bitcoin mark price was about $64,149. A post-sale check showed the wallet empty and the $61,605 liquidation level no longer appearing in public account data.

Hyperliquid public data showed about 38,750 BTC of open interest and positive hourly funding near 0.00071% at the time. Aggregate market figures indicated roughly $47.46 billion in Bitcoin open interest industry-wide, including about $34.06 billion in futures volume and about $2.35 billion in spot volume.

Over a comparable 23-hour window, linear BTCUSDT open interest on one major venue fell about 0.67% in BTC terms, while another venue’s linear BTCUSDT open interest declined about 4.64%. Bitcoin was trading near $64,200 and was down about 0.4% over 24 hours.

The account’s liquidation level was specific to that wallet and was removed from public view when the position closed. Other leveraged positions remain open across exchanges and trading venues.