A cryptocurrency trader operating under the pseudonym 0xaeaa has established a $65 million short position on Bitcoin with 20x leverage, according to on-chain data tracked by Hyperbot. The trader entered the position at $58,411, betting that Bitcoin will decline from current levels.
The liquidation price for this leveraged short stands at $67,916, meaning the position would be forcibly closed if Bitcoin rallies above that threshold. This represents approximately 16% upside from the entry point, creating a relatively tight risk window for the trader given the magnitude of the position.
The trade demonstrates significant conviction in near-term Bitcoin weakness, though such high-leverage positions carry substantial liquidation risk. A swift rally above the $67,916 level would trigger automatic position closure and potential losses for the trader.