$186.5M BTC-ETH bet sits close to liquidation levels

A Hyperliquid wallet holds isolated long positions of 1,821.85 BTC and 15,269.72 ETH—each position has its own margin—worth about $186.5M. The displayed leverage is 40x on BTC and 25x on ETH, the maximum for these contracts. Liquidation levels are near $80,638 for BTC and $2,406 for ETH, about 2.1% and 2.0% below their respective entry prices. These thresholds apply only to this wallet: such concentrated positions illustrate leverage risk, but do not by themselves describe the market’s broader positioning.