A user initiated a 40x short position on BTC on February 28th when the market was falling, and now holds 750 BTC.

CoinFeed reported on March 2nd that, according to on-chain analyst @ai_9684xtpa, user folhas99 initiated a 40x leveraged short position in BTC on February 28th when the market fell. He currently holds 750 BTC (approximately $49.63 million), making him the top BTC position on Hyperliquid. The opening price was $64,534, and the liquidation price was $70,730, resulting in a current unrealized loss of $1.187 million. He placed a limit sell order at $55,000, indicating a potential profit-taking opportunity if BTC falls another $11,000.