Bitcoin Price Must Slip $750 to Trigger $70 Million Whale Liquidation

A trader identified by the wallet address 0x396d opened a 40‑times leveraged long position on 911.55 BTC at an average entry price of $77,733 on September 10. The position represents roughly $70 million of exposure on the Hyperliquid decentralized exchange.

Leverage and Liquidation Threshold

At 40x leverage, the trader posted about $1.75 million in collateral. A 2.5 % move against the trade would exhaust that margin, triggering liquidation at $76,308.60. Bitcoin is currently trading near $77,150, leaving just under $1 million of headroom.

Trader Performance

On‑chain analytics show the wallet has won 92.5 % of its last 80 Bitcoin trades, indicating a high success rate. However, the current position is underwater, as the spot price is below the entry level.

Market Context

The position was opened after a wave of liquidations on September 10, when hotter‑than‑expected U.S. producer price index data sparked $562 million in crypto liquidations and pushed Bitcoin below $77,000. Upcoming macro events, such as CPI releases and the Federal Open Market Committee decision, could move Bitcoin more than 1 % in minutes, influencing the liquidation risk.

Possible Outcomes

• Bitcoin falls to $76,308.60, triggering automatic liquidation of the $70 million long.
• The trader adds additional margin, lowering the liquidation price and extending the position’s lifespan.
• The trader closes the position early, realizing the current loss.