BTC short position
Hyperliquid’s largest short position in Bitcoin has an unrealized profit and loss (PNL) of $31.8 million. This substantial figure highlights the potential gains from the position. The unrealized PNL indicates that the profits are not yet realized, as the position remains open. Such a significant amount reflects the volatility and trading strategies within the cryptocurrency market. The short position suggests that Hyperliquid is betting against Bitcoin’s price, anticipating a decline. This strategy can be risky, as it relies on market movements that may not align with expectations.
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