Bitcoin Liquidates $250 Million Worth of Leveraged Funds, Two Whales Long $130 Million on Dip

August 11th, according to TradingBeats (formerly Hyperinsight) monitoring, BTC is currently trading at around $64,034, a decrease of about 1.6% in the past 24 hours. However, the open interest of BTC perpetual contracts on Hyperliquid has increased from around $2.227 billion to $2.483 billion during the same period, an addition of about $256 million, representing an 11.5% increase.

Large addresses leveraged in both directions during this period. In the past 24 hours, there was approximately a $278 million increase in long positions, a reduction of about $132 million in longs, resulting in a net long increase of about $146 million. On the short side, there was an addition of around $286 million in short positions, with about $141 million covered, also leading to a net increase in shorts of approximately $146 million. The additional exposure did not show a clear one-sided direction.

Technically, the potential volatility of BTC has started to expand. Calculated using a 20-period, 2-standard deviation measurement, the 1-hour Bollinger Band width has increased from about 0.77% 24 hours ago to 2.50%, a 225.6% increase, placing it in approximately the 93.5th percentile over the last 7 days; the 4-hour Bollinger Band width has also expanded from 1.61% to 2.32% during the same period, a widening of about 44.2%.

The price has also reached the lower bound of the 4-hour channel. The most recent complete 4-hour candle closed at $64,127, approximately $75 away from the $64,052 Bollinger lower band.

Two high-leverage whale positions have become the representative long and short counterparties in the current market:

A whale starting with 0x004e has taken a 40x isolated long position on 1000.5 BTC, with a position value of around $64.065 million, an entry price of $64,069.1, and a liquidation price of $61,835, about 3.4% lower than the current price; the whale has a sell order to reduce the position by approximately 30% at $64,600, with about $19.411 million pending.

Another whale starting with 0x8c96 has increased its short position by 660 BTC in the past 24 hours and is currently 20x leveraged short on 1100 BTC, with a position value of around $70.437 million, an entry price of $64,487.2, and a liquidation price of $66,308.2, approximately 3.6% higher than the current price.

The on-chain perpetual and address analysis tool TradingBeats is now live, supporting real-time viewing of Hyperliquid data, from address tracing to whale operations, providing in-depth analysis and insights.