A whale shorting Ethereum with high leverage on HyperLiquid is still losing nearly $19 million

The address "0x8c58" deposited $1.98 million in USDC into HyperLiquid and opened a short position in ETH with 20x leverage. The address initially suffered a floating loss of $26.6 million, and although it has since partially recovered, it is still currently down approximately $19 million.