40x BTC Whale Flips Short, $500 From Liquidation

A Hyperliquid whale flipped from a 40x BTC long to a 40x short and is now holding a short position of 254.5 BTC entered at an average of $77,761. The reported liquidation price is $78,870, after BTC rose to $78,410 following the CME open. The account previously held a 311 BTC long position at 23:00, with a liquidation price of $76,987. The trader closed that long in two transactions above $78,000 at 01:17 and 01:48, reportedly realizing about $108,000 in profit. The trader then opened a 268 BTC short at 01:59 and closed it at 03:29 for a reported $35,000 profit. A new 254.5 BTC short was opened at 04:03 at 40x leverage. The position was reported to be carrying an unrealized loss of about $155,000 after BTC reached $78,410. The account's equity reportedly fell from about $700,000 to about $440,000, while $80,000 USDC was transferred out during the period. The proximity of the reported $78,870 liquidation level makes the position a high-leverage BTC liquidity event.