99.5% Win-Rate Whale Shorts 288 BTC at 40x, $3.5M Underwater
A 99.5% record, then a $34.9M liquidation week
A Hyperliquid whale with a 99.5% win rate is now sitting on a 288 BTC short that is $3.5 million underwater. The address 0x66f889094739dbb7d20aa60f645acd88feba75a9 has closed 638 trades in the past 12 days and won 635 of them, banking $1.77 million in realized profit on $405 million in volume. The loss column tells a different story. On August 20, two liquidations hit the account at the same moment: a 240 BTC short at $71,527 worth $17.2 million, plus a 3,737 ETH long at $2,275.54 worth $8.5 million. The next day, a 122 BTC short at $75,867.88 was wiped for another $9.3 million. Combined, those three events cost roughly $34.9 million.
The 40x BTC short now open on Hyperliquid
As of 20:55 Beijing time, the account holds 288.01 BTC short with an entry price of $66,891.7 and 40x cross margin. The position is worth about $22.75 million and shows an unrealized loss of $3.49 million, roughly 7.2% of the margin at risk. Liquidation price sits at $80,681.85. Spot BTC traded at $78,986 on Binance and $78,980 on OKX in the same window, so the liquidation level is about 2.1% above the market. Price is up roughly 18% from the entry, which explains the damage. The same wallet also runs a 4,000 ETH long at 25x with a $2,477.6 entry and a liquidation at $2,347.96, adding another layer of leverage to the book.
Why the $80.7K line matters to the market
A short liquidation is not a normal exit. The exchange force-buys the position, so about $22.8 million of buying would hit the order book at once at current prices. BTC traded as high as $81,270 on Binance in the past 24 hours, a level that already crossed the whale's liquidation price, before pulling back under $79K. The 24-hour liquidation tally is running at $586.8 million with shorts paying 57.5% of it, and the last hour flipped to 97% long liquidations, a sign the squeeze is still cycling. If BTC reclaims $80,682, this position becomes forced buying at the worst possible moment for the bear side.
What a perfect record does not tell you
The useful takeaway is how little a 99.5% win rate matters when sizing goes wrong. The account made $1.77 million on 638 closed trades and is now down $3.5 million on a single open position. Win rate measures frequency, not risk per trade, and one oversized 40x bet can erase months of small wins. For traders watching the tape, the levels to track are $80,682 for the BTC short liquidation and $2,348 for the ETH long. Both are closer than the recent headlines suggest.
Data as of 20:55 Beijing time (12:55 UTC), August 25, 2026, covering Binance, OKX, Bybit, Hyperliquid, Bitget, Gate and other major exchanges. BTC prices cross-checked on Binance and OKX.