Bitcoin (BTC) Trader Bets Big with $7M USDC on Hyperliquid, Opens 20x Short on BTC and XRP

According to LookIntoChain monitoring, a newly created wallet seeded 7 million USDC into Hyperliquid, then established a short position on BTC and XRP using 20x leverage.

On-chain data show the positions comprise 1,129 BTC (approximately $116 million) and 8,888,888 XRP (approximately $20.35 million), reflecting a substantial exposure to major crypto assets.

Analysts view the pattern as high-risk trading activity; the account is associated with users of Roobet and Stake, underscoring a speculative tilt in leveraged crypto markets.