On March 6, according to HyperInsight monitoring, a BTC whale's long position on the decentralized derivatives trading platform Hyperliquid was liquidated in the past two hours.
Data shows that when the BTC price fell to around $71,510, 146 BTC long positions held by the address (starting with x1bf) were forcibly closed, resulting in a liquidation scale of approximately $1.27 million. This was the largest single liquidation event in the entire network in the past 24 hours.
Despite the liquidation, the address still holds a BTC long position worth about $4.16 million, with leverage of about 4 times and an average entry price of $71,440. Data indicates that the next liquidation price is around $69,997, approximately 1.4% away from the current price.
On-chain transaction records show that the whale had previously closed a BTC short position worth about $3.25 million at an average price of about $72,300 the day before and exited with a profit. After BTC fell below $72,000, they quickly reversed to long positions, expanding them to about $5.2 million, becoming the largest BTC long on the Hyperliquid platform.
From closing the short position to reversing to a long position and then triggering liquidation, the entire trading cycle was less than 24 hours, reflecting the strong volatility risk under high leverage trading in the recent crypto market.
