Whale behind largest on-chain BTC short cuts position, loses nearly $1M in 12 days

An anonymous whale address beginning with 0xff84, which had been holding a roughly $125 million Bitcoin short position on Hyperliquid (HYPE), cut part of the trade at a loss, according to ai_9684xtpa. The address reduced the position by 300 BTC about 40 minutes ago, realizing cumulative losses of $988,000 since Aug. 5. It now holds a 1,700 BTC short position worth $108 million, with unrealized profit of $96,000. The position faces forced liquidation at $63,710.5.