Bitcoin 40x Short on Hyperliquid Triggers $14.14M Largest 24-Hour Liquidation

COINOTAG News reports that on December 26, BTC faced a 3% intraday surge, triggering the day’s most sizable liquidation of $14.14 million. The move is linked to a short position on the address beginning with 0xa8e, traded via Hyperliquid, amid elevated risk during the session.

Within the hour, the same 40x leverage BTC short incurred two large liquidations, totaling about $17.63 million. The largest leg involved 160 BTC, worth roughly $14.14 million, underscoring amplified leverage risk in crowded markets.

Following the liquidation cycle, the address reemerged with a new 40x BTC short position of around $7.1 million, entry at $89,040, and a liquidation threshold at $89,820. Notably, on December 19, this address ranked as the largest BTC short on Hyperliquid.