Bitcoin whale dumps $122 million 40x long right before liquidation can strike
A public Hyperliquid wallet that was worth about $107 million on July 19 fully exited a 40x Bitcoin long on July 20 after briefly increasing the position to 1,897 BTC. It sold 903.48 BTC at about $64,666, then closed the remaining 994 BTC at about $63,931, totaling roughly $122 million in BTC sales at a combined average near $64,281. The position’s listed liquidation level had been near $61,605 shortly before the final exit, but that level disappeared once the wallet was empty. The move removed one visible leveraged bet without creating a price floor. Broader derivatives activity remained elevated, with Hyperliquid showing about 38,750 BTC of open interest and positive funding, while CoinGlass reported about $47.46 billion in BTC open interest overall. Binance and Bybit open interest both fell over the same period. BTC traded near $64,200, with weak spot demand still weighing on recovery.
