PANews reported on March 2nd that, according to on-chain analyst @ai_9684xtpa, user folhas99 initiated a 40x short position in BTC on February 28th when the market fell. He now holds 750 BTC (approximately $49.63 million), making him the top BTC position on Hyperliquid. The opening price was $64,534, the liquidation price was $70,730, and the current unrealized loss is $1.187 million.

He placed a limit sell order at $55,000, meaning he would take profits if BTC fell another $11,000.