A certain new address has executed a 40x short on BTC on Hyperliquid, with a position size exceeding $100 million.

August 5th, according to LookIntoChain data, a newly created wallet address 0xff84 deposited $2.44 million USDC into Hyperliquid and opened a 40x leveraged Bitcoin short position.

The data shows that the trader's short position reached 1600 BTC, with a notional value of approximately $102.6 million, and a liquidation price of $64,888.97.

It is currently unclear whether the trader has insider information or is simply making a high-risk directional bet. High leverage short positions may face rapid liquidation risk during market volatility.