The whale was not alone as more than $1.19 billion in crypto positions were liquidated in 24 hours, with $1.05 billion of that coming from longs. $ETH liquidations reached $350 million, more than bitcoin’s $304 million. Bitcoin.com News tracked the same flush as the bitcoin price dropped below $81,000.
Thirty Minutes Later
While most traders who get liquidated step back, this whale was unfazed and quickly reloaded. To elaborate, about 30 minutes after the forced sale, the whale deposited 10 million USDC in fresh margin and reopened a long of 9,580 $ETH, worth $23.26 million, at $2,428. That was only a few dollars above where the old position had just been wiped out.
After the rebuy, EmberCN put the whale’s total longs at about $288 million with a $9.71 million paper loss. That total includes 78,950 $ETH worth roughly $195 million, plus the 1,140 $BTC.
The Position Right Now
Hyperliquid’s public data shows the ether bet split across two linked addresses. As of early Oct. 9 UTC:
- One address held about 39,964 $ETH long at an average entry of $2,647, with liquidation near $2,286.
- The second address held about 38,991 $ETH at $2,531, with liquidation near $2,299.
- Combined, the two $ETH positions showed an unrealized loss of roughly $8 million, with about $19 million in account equity behind roughly $196 million in exposure.
That is leverage of around 13x to 14x per address and with ether trading near $2,500, the whale has roughly 8% of room before the next forced sale. The $BTC leg, according to EmberCN, carries liquidation prices between $72,198 and $74,379, which leaves more breathing room as long as bitcoin’s price holds in the low $80,000s.
Why This One Is Worth Watching
Big leveraged books on Hyperliquid have become a market signal in their own right. On Oct. 6, Bitcoin.com News reported on linked Hyperliquid giants holding $1.58 billion in shorts against bitcoin and ether. This whale sits on the far side of that trade, and its liquidation levels are public for anyone to see.
