The public Hyperliquid wallet, worth about $107 million on July 19th, briefly expanded to 1,897 BTC before fully exiting its 40x Bitcoin long on July 20th.
Lookonchain was reporting 1,660 BTC positions with a listed liquidation price around $63,123. According to Hyperliquid’s public account data, the wallet added an additional 235 BTC at the beginning of July 20th.
The wallet then sold 903.48 BTC at an average price of around $64,666, leaving 994 BTC. Bitcoin. We closed the remainder at an average price of approximately $63,931 at 06:33 UTC, generating $63.56 million in closed trades and completely eliminating our position.
Through both phases, the wallet sold approximately $122 million in BTC, for a total average of nearly $64,281. Nine minutes before the last sale, this position still had a listed liquidation price near $61,605, while Hyperliquid’s BTC mark was around $64,149. The last trade was over $63,876.
Post-sale checks revealed the wallet to be empty, wiping out the $61,605 liquidation level before Bitcoin reached that level.
The exit removed one visible leveraged position without setting a price floor.
Public hyperliquid liquidation levels often serve as account-specific market markers, but are not fixed support levels or predictions. In this case, the marker is no longer applied once the wallet is closed.
Open interest remains large, but similar venues have decreased
Substantial derivative exposures remained elsewhere. At the beginning of Monday, Hyperliquid showed open interest of approximately 38,750 BTC and positive hourly funding of nearly 0.00071%. CoinGlass reported total Bitcoin open interest of approximately $47.46 billion, futures trading volume of $34.06 billion, and spot trading volume of $2.35 billion.
In the same 23-hour time frame, Binance’s BTCUSDT open interest decreased by 0.67% in BTC terms, while Bybit’s linear BTCUSDT open interest decreased by 4.64%.
According to Bitcoin market data, BTC is trading around $64,200, down 0.4% in 24 hours. firememecoins’s latest market analysis also found that weak spot demand and unconfirmed ETF demand are leaving the recovery incomplete.
Exits therefore indicate concentrated risk aversion rather than market-wide leverage expansion. The $61,605 marker no longer applies as a psychological or strategic target.
If Bitcoin falls, there will be pressure to liquidate positions as they are still open.
(Tag translation) Bitcoin
