Top Hyperliquid Trader Cuts $9M Bitcoin Short as it Nears $113K

Whale Watch Perps (@whalewatchperps) reported one of the top 1 percent profit traders of Hyperliquid sold a short position of 9 million dollars in Bitcoin at 06:21 UTC on October 14, 2025. The average entry of the trader was $113,027.20 and his liquidation was at 152,051.60. The move was announced by Whale Watch Perps at 06:21 UTC on October 14, 2025. The monitored trader decreased a nine million Bitcoin short. The mean entry was 113,027 /BTC. The liquidation price was $152,051.

A top trader by PnL on Hyperliquid just reduced their short $BTC position

This user's current position is short $9M of $BTC at an average price of $113,027.20.

This user would be liquidated at $152,051.60

— Whale Watch Perps (@whalewatchperps) October 14, 2025

Bitcoin was changing close to $113,541 at the update. The trader was nearly on breakeven stand. The move can indicate lower bearish confidence. The post was written when Bitcoin was reaching the extension of its 90% annual gain. BTC started trading under the $60,000 level in early 2025, and is trading currently above $113,000. The reduction may represent a profit-taking or risk management. The Whale Watch Perps follows the one percent of PnL traders on Hyperliquid. Such traders tend to affect the short-run movements on the market.

Hyperliquid: Decentralized Powerhouse

Hyperliquid has its own blockchain Layer 1. It processes any trade with no gas costs. The system has low taker prices of between 0.02 and 0.05. Liquidity providers are rewarded by maker rebates. The exchange is currently transacting more than 5 billion dollars per day. DeFiLlamma reported that its volume of Q3 2025 led the decentralized competitors. It even surpassed dYdX and GMX in the growth of its users. Hyperliquid permits hyperliquid leverage of up to 50x without KYC.

This appeals to business and commercial traders all over the world. The trader averaged less than 113, 027 per BTC in the short with its potential liquidation being 34 times. Leverage is estimated to be 20x-50x, which means that the range of margin is between $180,000 and 450,000. Hedging such a leveraged short is generally an indication of profit-taking or risk management.

Bitcoin Market Backdrop

CoinMarketCap data indicated that BTC was up 3.68% in 30 days and 53-percent of the days had been green as at 07:00 UTC. The 50-day moving average will serve as support and the 200-day trend is strongly bullish since March 2025. Changelly records the current low at 111,748 during the day, which is volatile characteristic of aligning with whales.

In 2024, analogous decreases on perpetual exchanges caused 15 percent Bitcoin spikes as liquidation falls increased prices. This type of occurrence increases volatility, but does not always alter fundamentals No-KYC and permissionless model and the 50x leverage options at Hyperliquid are appealing to high-volume traders.

Growth in the Ecosystem Supported by Metrics

Hyperliquid has a trade volume in the Q3 2025 up 40 percent compared to the Q2, according to DeFiLlama. It was a short of approximately $9 million. The average entry price was $113,027. When the trader reduced exposure, Bitcoin was trading around the value of $113,541. The variance had been a 0.45% unrealized loss. The liquidation point of 152,051 sat by 34 percent. BTC was resilient this month and exhibited upward steady movements. According to Data provided by Changelly, BTC has been on the rise by 3.6% in 30 days. The 50-day moving average was on an increase. In March the 200-day moving average became bullish. Bitcoin control was close to 55 percent of total crypto market capital.

According to historical information in 2024, 10-15 percent BTC increases occurred in the case of leveraged short unwinding. The transparent on-chain books of Hyperliquid display the level of liquidation on the real time. Its explorer allows traders to locate the position of whales. This openness is a motivator to retail involvement. But, it also enhances herd reactions. At the level of BTC at above 115,000, liquidations of short can become faster.

Implications on the Future Broader Markets

Whale Watch Perps also monitors these high-profile dealers in real-time using the Hyperliquid on-chain explorer open books. The transparency is quite appealing to retail speculators and quant funds that are in search of sound signals on market. Volatility normally ensues when the big traders shorten them. The same trend may reoccur. The fact that Bitcoin has been able to recover remarkably out of sub-60,000 levels was an added confidence. Traders can anticipate an upside momentum with Hyperliquid whales cutting shorts.