BTC and ETH's biggest bearish trader, the "Short Air Force Commander," has been liquidated for $199 million, becoming the largest liquidation in the entire network in the past 24 hours.

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Jan. 22 — Per monitoring from HyperInsight (Telegram: @HyperInsight) and Coinglass, the crypto market saw significant volatility overnight and early this morning. Driven by a 2.3% short-term jump in BTC and a nearly 5% surge in ETH around 3 a.m. ET today, the largest short whale on Hyperliquid — dubbed the "Short Air Commander" (address 0xd83) — was hit with a massive liquidation totaling $199 million. Its largest single liquidation reached $40.22 million, marking the biggest single liquidation across the network in the past 24 hours. The address had previously loaded up on shorts across ETH, XRP, and other assets, with its total position once approaching $500 million. It was also the top short holder for BTC, ETH, PEPE, XRP, and other assets on Hyperliquid. Due to its full cross-margin mode, the whale’s trades pushed down liquidation prices for multiple assets sharply. Around 3:30 a.m. ET, the address saw dozens of consecutive liquidations across five assets. In recent hours, the whale has reinitiated short positions across multiple assets. Key liquidation and position details follow: - BTC Shorts: Liquidated 400 coins (≈$36.04 million); current position ≈$145 million; liquidation price $90,990 - ETH Shorts: Largest single liquidation 13,288 coins (total 40,640 coins, ≈$123 million); current position ≈$96.1 million; liquidation price $3,073 - PEPE Shorts: Liquidated ≈$7.41 million; current position ≈$13.3 million; liquidation price $0.00579 - XRP Shorts: Liquidated 14.88 million coins (≈$29.07 million); position fully closed - HYPE Shorts: Liquidated 185,700 coins (≈$4.01 million); current position ≈$13.11 million; liquidation price $24.64

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