A user opened a 40x short position on BTC when the market started to decline on February 28, and now holds 750 BTC.

PANews reported on March 2 that, according to on-chain analyst @ai_9684xtpa, user folhas99 opened a 40x BTC short position when the market declined on February 28. He currently holds 750 BTC (approximately $49.63 million), making it the TOP1 BTC position on Hyperliquid. The entry price was $64,534, with a liquidation price of $70,730, and he is currently facing an unrealized loss of $1.187 million.

He has placed a limit sell order at $55,000, meaning he will take profit if BTC drops another $11,000.