Hyperliquid trader begins reducing 1K BTC long position

Swing trader Aguila Trades, who earlier opened a leveraged long position of 3,804 Bitcoin (BTC) with 20x leverage on Hyperliquid—valued at approximately $413 million—has begun reducing his exposure as BTC pulls back to his entry price, according to on-chain analyst @EmberCN. At around 22:00 UTC on June 11, he initiated the unwinding of a 1,000 BTC position using a time-weighted average price (TWAP) strategy. So far, 155 BTC have been offloaded. His average entry price is $108,638, and the position faces liquidation if BTC drops to $103,000.