Hyperliquid's largest BTC long position just set up 21 exit orders, perfectly covering 1,500 BTC~ Hyperliquid's top long holder 0x004e…1bb8 currently holds a 1,500 BTC long position worth $95.34M, with an entry price of $63,790.60, an unrealized loss of $351K, and a liquidation price of $61,841.93. At the moment, this address has no additional buy orders to increase the position, only two layers of sell orders to reduce it: - Limit sell at $64,000 to close 500 BTC long; - Stop Market sell orders between $57,037 ~ $54,363, 20 orders of 50 BTC each. All 21 orders are reduce-only, perfectly covering the entire long position. On the surface, this looks like "reducing at the top, protecting at the bottom," but all 20 stop-loss orders below are set beyond the liquidation price of $61,842. This means that if the price drops, the position will hit the liquidation line first, and only then will the 1,000 BTC stop-loss orders be triggered. In other words, these sell orders are not currently an effective defense against liquidation. Meanwhile, yesterday's largest BTC short holder on Hyperliquid, 0x66f8…75a9, has also reversed direction today. This address closed a 2,135.80 BTC short position early this morning, realizing a profit of $1.6572M. About three hours after closing, they opened a 200.82 BTC long position near $63,488, currently worth $12.77M, with an unrealized profit of $16.3K and a liquidation price of $55,382.5. Smart money links: - BTC Long: https://www.((aicoin.com))/zh-Hans/hyper-detail/0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8 - Former BTC Short: https://www.((aicoin.com))/zh-Hans/hyper-detail/0x66f889094739dbb7d20aa60f645acd88feba75a9