Crypto Whale Fends Off Liquidation Attempt on $445M Bitcoin Short Position

A crypto whale on Hyperliquid successfully defended a $445 million short position on Bitcoin perpetual futures, despite a coordinated attempt by other traders to trigger liquidation. The incident, which occurred on Sunday, saw the price of Bitcoin briefly surge above $84,690 after trader CBB rallied a group to target the whale's 40x leveraged position with a liquidation price of $86,000. The whale was forced to deposit $5 million USDC to increase margin and avoid liquidation. Simultaneously, the whale holds a 5x leveraged long position in the MELANIA memecoin. Hyperliquid highlighted the transparency of its platform, noting that the event showcased the unique ability to publicly track and verify large trading positions.