BTC Shorts Squeezed: Hyperliquid Whale Loses $3.15M

BTC shorts are paying for the bounce. After dipping to $76,581 on Binance, bitcoin climbed back above $78,500, and the move flushed out leveraged sellers across exchanges. Hyperliquid alone cleared a 40 BTC short at $78,646, a $3.15 million wipe that landed roughly 16 minutes before this snapshot.

BTC short cascade hits Hyperliquid

Hyperliquid shows three short liquidations inside a three-minute window as price crossed the $78,460-$78,650 zone. The 40 BTC order worth $3.15 million was the largest, followed by a 25.1 BTC short for $1.97 million and a 15.2 BTC short for $1.19 million. Binance and OKX both put the current BTC price near $78,500, up about 2.3% over 24 hours, with the day's range sitting between roughly $76,580 and $78,760.

The whale still holding 160 BTC short

The liquidated wallet, 0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8, still runs a 160 BTC short opened near $77,035 on 40x cross margin. The remaining position is worth about $12.6 million and is marked roughly $234,000 underwater, with its liquidation price at $78,861, around $360 above the current market. This account has been liquidated six times before and has traded more than $1.78 billion in volume across 10,821 fills, so it is a repeat heavy player rather than a one-off punter.

Short liquidations dominate the 24-hour tape

The last 24 hours produced $244 million in total liquidations, with $173.3 million on the short side, about 71% of the whole. BTC alone accounts for $58.2 million of short wipes against $10.1 million of long wipes. Exchange splits show where the pressure concentrated: Binance cleared $73.1 million of shorts, Bybit $30.8 million, OKX $27.7 million and Hyperliquid $17.2 million, where long-side losses barely reached $164,000.

What the setup means for longs

For traders on the long side, the bounce still carries risk. BTC has reclaimed the $78,000 handle, but part of this rally is being fed by short liquidations, which are one-off buying pressure rather than steady accumulation. The whale address above is roughly $360 away from its forced exit at $78,861, so a sustained close above that level could trigger another round of covering and add fuel. Below $78,000, the sellers cleared tonight may step back in, which keeps the range in play.

Data as of 21:15 Beijing time on September 3, covering Binance, OKX, Bybit, Hyperliquid, Gate and other major exchanges. BTC price and 24-hour range follow Binance and OKX spot prints.