A veteran Bitcoin whale known as “1011short” has re-entered the market by opening a massive $77 million short position. According to on-chain data, the trader deposited $30 million in USDC to the decentralized exchange Hyperliquid before initiating a 10x leveraged short on 700 BTC. This trade was executed at an entry price of $109,133 per BTC.

With Bitcoin currently trading near $110,628, this position is sitting at an unrealized loss of approximately $1.13 million. The wallet’s liquidation price is set at $150,084, indicating a calculated but high-risk strategy.

### Second Whale Opens $39M in BTC and ETH Shorts

Meanwhile, another wallet, starting with the address 0x579f, has also entered the market with significant short positions. Over the past two days, this address deposited $2.91 million USDC into Hyperliquid and opened high-leverage shorts on both Bitcoin and Ethereum, totaling around $39.21 million in exposure.

For Bitcoin, the wallet opened a 40x short on 147 BTC, valued at $16.3 million, with an entry price of $107,174. As BTC trades higher, this position currently shows an unrealized loss of about $509,000 and has a liquidation price set at $111,550.

The same address also opened a 25x short on 5,656 ETH, valued at $22.9 million, at an entry price of $3,915. With Ethereum now trading around $4,050, this position faces an unrealized loss of roughly $763,900, while its liquidation level is $4,074.

### Current Status

Based on on-chain data, the combined short exposure of these two wallets on Hyperliquid exceeds $116 million. Both traders are currently facing unrealized losses as Bitcoin and Ethereum prices remain above their respective entry points.

No additional details about the identities behind these wallets have been made public at this time.
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