Last Friday, a BTC whale with a $33 million long position was liquidated, marking the largest single liquidation across the entire network, only to buy the dip again.

Jan 19 – Bitcoin (BTC) saw a short-term drop of over 3.5% this morning, per monitoring from HyperInsight (Telegram) and Coinglass. A whale address on Hyperliquid faced multiple large-scale liquidations, with the largest single liquidation totaling $25.83 million—marking the biggest single liquidation across the network in the past 24 hours. The whale began activity last Friday (Jan 16): it transferred funds on-chain to Hyperliquid, continuously sold Ethereum (ETH) spot holdings, and opened a 40x leveraged BTC long position around $95,600, adding to it consistently. At one point, its BTC long position held 350 coins, worth approximately $33.46 million. Even as it continued transferring and selling ETH during today’s drop to lower its liquidation price, the BTC long position was fully liquidated, resulting in a cumulative loss of roughly $1.1 million. Post-liquidation, the address transferred ~169 ETH spot to the platform and sold them, then reopened a 40x leveraged BTC long position. The new position totals $38.7 million, with an average entry price of ~$92,600 and a liquidation price set at $91,400. Currently, the whale is the third-largest BTC long position holder on Hyperliquid.