Hyperliquid Whale Holds $13.2M BTC Position Down $3.94M, 12x Initial Capital Loss Since Oct 11 Bottom

According to Hyperinsight tracking, address 0x860 on Hyperliquid has become the largest loss-holding whale among long BTC traders on the platform. The whale entered the market 220 days ago following the October 11 crash, opening a 29x leveraged position with an average price of $109,632 and position size of $13.2 million.

As of May 18, the position remains unrealized loss of $3.94 million, equivalent to 12 times the initial capital, without ever closing since BTC fell below the entry price on October 30. Based on the address’s estimated overall capital, the $13.2M position corresponds to a 1.1x leverage ratio yet has eroded approximately 30% of the account’s total funds.