On-chain data reveals a significant development involving a high-leverage BTC short position linked to an address monitored by analyst Yu Jin. This address, previously associated with a controversial short trade alongside James Wynn, has recently increased its exposure by transferring nearly 5 million USD to Hyperliquid, amplifying its short position. Initially opened on May 21 with a 40x leverage and a margin of 7.3 million USDC, the position was entered at approximately 107,192 USD per BTC.
Despite a subsequent upward trend in Bitcoin’s price, which triggered partial liquidations and margin calls, the trader has maintained the position, now valued at 115 million USD. The current opening price is reported at 107,766 USD, with a critical liquidation threshold set at 110,826 USD. The total margin backing the position has increased to 12.27 million USD, yet the unrealized loss stands at 3.11 million USD, reflecting the high risk inherent in leveraged short strategies amid volatile market conditions.