Hyperliquid appears with over $30 million USD in BTC short-term unrealized gains, the market game behind 20x leverage

According to Hyperinsight monitoring data, a massive BTC short position on the Hyperliquid platform is generating substantial unrealized gains. This trade employed a high-risk 20x leverage, with a short scale reaching 1,231.98 BTC, corresponding to a notional value of approximately $105 million.

More notably, the current unrealized profit of this short position has reached $31.8 million, with an entry average price of $111,499. This indicates that since opening the position, the decision to short has yielded significant paper gains.

According to the latest data, BTC is currently trading at $90.77K. The change from the entry price to the current price demonstrates that this 20x leveraged short trade fully reflects the dual nature of leverage trading—amplifying both gains and risks. An unrealized profit of over $30 million on the Hyperliquid platform is indeed rare, highlighting significant divergence and betting on Bitcoin’s price movement in the current market.

The emergence of such large short positions not only demonstrates individual traders’ risk appetite and judgment but also provides important market sentiment and data references. In a high-leverage trading environment, such positions have become a focal point of market attention.