TechFlow news: On June 4, according to Hyperinsight monitoring data, today’s largest liquidation event across the entire network was triggered by two whales—one holding a massive long position in BTC and the other holding a massive long position in ZEC. A sharp market decline initially inflicted heavy losses on long positions. At noon, BTC’s rebound severely impacted the largest short-seller address actively chasing downside moves during the decline; after this whale suffered a large-scale forced liquidation, the market dipped slightly again.
Four hours ago, Hyperliquid’s “largest BTC short position” was liquidated twice consecutively amid BTC’s price recovery, resulting in a total forced liquidation of 454 BTC—valued at approximately $29.3 million—setting a new record for the largest single liquidation across all platforms today. Due to margin depletion, the whale’s long HYPE position was also partially liquidated.
It is reported that this whale continuously added positions and rolled over short contracts during the earlier downward price movement, causing its liquidation price to invert below its average entry price. As of press time, this address still holds roughly $32.8 million worth of BTC short positions, with the next liquidation price at $64,713. Its position size has fallen to the second-largest BTC short on Hyperliquid.
