A Hyperliquid whale had 28,716 ETH liquidated for $69.69 million as ether fell to $2,420 overnight, then rebuilt a leveraged long within half an hour. The trader's two remaining ether positions, worth roughly $196 million combined, now sit about 8% above their liquidation prices, while other large Hyperliquid accounts took separate hits in the same sell-off.
A Hyperliquid whale had 28,716 ETH liquidated for $69.69 million as ether fell to $2,420 overnight on Oct. 9. Within half an hour, the trader deposited 10 million USDC in fresh margin and reopened a long of 9,580 ETH at $2,428.
Two Weeks of Leverage Behind the Loss
The position traces back to Oct. 7, when onchain trackers spotted margin deposits across three Hyperliquid addresses holding about $352 million in long bets, including 1,140 BTC and 98,090 ETH opened roughly two weeks earlier at average prices of $82,205 for bitcoin and $2,604 for ether. By the morning of Oct. 8, the 98,089 ETH position, then worth $252.3 million, was flagged for liquidation at $2,446.48 and $2,424.47 — and ether hit both levels overnight.
The whale was not alone. Bitcoin tanked from $87,000 to under $81,000 in a few days, dragging altcoins down with it. More than $1.19 billion in crypto positions were liquidated in 24 hours, with ether accounting for $350 million of that total.
Reloaded Within Half an Hour, Still on the Edge
After the rebuy, the whale's positions on two linked Hyperliquid addresses held about 39,964 ETH long at an average entry of $2,647 and about 38,991 ETH at $2,531. Liquidation prices on those two legs sit near $2,286 and $2,299. That roughly 13x to 14x leverage per address leaves about 8% of room before the next forced sale, with ether trading near $2,500.
Other Big Hyperliquid Bets Also Got Hit
Other large accounts suffered in the same sell-off. Machi Big Brother lost $8.44 million over the past week, pushing the account's value under $1 million. It still holds a 9,950 ETH long worth over $24.6 million with a liquidation price of $2,431. Separately, AguilaTrades returned after more than six months on the sidelines and closed a BTC long at a $331,000 loss. The trader then opened a 40x short on 200 BTC that was also wrecked, leaving total losses for the day at $545,000.
The whale's long now sits on the opposite side of $1.58 billion in Hyperliquid shorts against bitcoin and ether reported on Oct. 6, making its public liquidation levels a signal the market is watching.
Sources: Bitcoin News, CryptoPotato
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