Hyperliquid Trader's $19.91 Million Leveraged Bitcoin Short Nears Liquidation After Price Surge

A large leveraged Bitcoin short position on the decentralized exchange Hyperliquid came within 0.44% of liquidation as Bitcoin prices surged, bringing the trader's cumulative lifetime losses to approximately $39.09 million. As of 10:46 a.m. ET on November 11, the trader held a 40x leveraged short valued at $19.91 million, having suffered a separate partial liquidation loss of $50,900 five minutes prior. The escalating strain follows aggressive short positioning initiated earlier in the week, when a trader opened a 30x leveraged, 200 BTC short position worth $15 million at an average entry price of $75,303.60.