A certain address sold off 262 ETH, then opened a 40x leveraged short position on BTC worth $25.4 million.

According to Lookonchain monitoring, an address sold 262.78 ETH, converted the proceeds to approximately 643,000 USDC, and deposited the funds into Hyperliquid. Around 40 minutes ago, the trader opened a 40x leveraged short position on BTC, with a size of 305.51 BTC, a notional value of roughly $25.4 million, entry price of $83,067.70, liquidation price of $84,086.03, and is now holding an unrealized profit of $17,000.

@tonmelonfest