Well now LEVERAGE Starts Feeling HEAVY… the Big Guy Now starts to "Hits the Brakes... Finally"😉
Going long used to be the move. Big size and confidence, ride it out. But last night on Hyperliquid, you could almost feel the hesitation creep in. The “big guy” started trimming risk, piece by piece… closing leverage, eating losses, and inching closer to spot instead.
He already cut 14,000 $ETH , took a $3.62M hit. Same story with $BTC , 427.28 coins gone, another $1.61M loss absorbed.
What’s left is still massive though. Around $681M in open longs, running about 4.1x leverage, with unrealized losses sitting near $48M. Account equity’s down to roughly $166M, and margin usage is stretched ... over 78% now. Free margin is about $36.1M, only 21.7% actually withdrawable. Really very tight.
Most of the weight is still on ETH. A long ETH position worth ~$566.8M, cross 5x, holding 192,752 ETH. Entry around $3,161, mark price near $2,940… liquidation lurking way down at $2,155. Unrealized PnL is bleeding at -$42.6M, plus nearly $7M already burned in funding. Margin there alone is over $113M.
$SOL is next. $63.9M long, cross 10x, 511,612 SOL. Entry at $130, now hovering closer to $124. Down $2.7M, funding fee eating another $450k.
BTC’s the smallest but still not small. $50.8M long, cross 5x, 572.7 BTC. Entry $91.5k, mark $88.7k. About $1.6M down currently, funding cost nearing $837k.
Wallet watching, as always:
0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae
