Whale Deposits $23M USDC into HyperLiquid to Save $2.49B BTC 20x Short — $21.5M Unrealized Loss, $7M Funding Fees

Onchain Lens data cited by COINOTAG on October 4 indicates a crypto whale deposited 23 million USDC into HyperLiquid over the past three days amid the market rebound, aiming to avoid liquidation of a $2.49 billion BTC short position held at 20x leverage. This movement reflects concentrated margin adjustments reported on-chain.

The position currently shows an unrealized loss of about $21.5 million, while accumulated funding fees amount to roughly $7 million, partially offsetting the negative unrealized P&L. These figures, as reported, underscore active margin management and elevated counterparty exposure within the derivatives market.