A Hyperliquid address monitored by Liquid24/7.xyz is holding 2,165.8 BTC short positions with a notional value of about $186 million and 80,235.38 ETH short positions with a notional value of about $218 million. According to ChainCatcher, BTC was trading at $86,052 and ETH at $2,711.40 at the time of publication.

The address opened its BTC shorts at an average price of about $76,623 and its ETH shorts at an average price of about $2,350.27. The two positions were carrying an unrealized loss of about $49.4 million combined.