Currently, a whale on the BTC chain holds a long position worth 1.1 billion...

According to the current liquidation data on Hyperliquid, positions exceeding 200 BTC and with liquidation prices within 20,000 dollars above or below the current price range are attracting attention across the network for this long position valued at 1.1 billion dollars!

Meanwhile, the on-chain shorts are currently... generally in a defensive state, with liquidity distribution being quite scattered, and a considerable number of positions have very high liquidation prices. This has led to the current on-chain futures market's short leverage being significantly lower than that of the long!

The average long leverage is around 25 times, while the average short leverage is around 18 times.

It is clear that the existence of this massive long position has raised the average leverage for longs... and its likely aim is to eat away at the short liquidity defense that has accumulated 4,500 BTC around the 112k area above.

Therefore, the current target price may be tested multiple times here.

Currently, the sentiment in the futures market is entirely maintained by this one long position; if it closes, the price will drop, and if it doesn't close, there is still hope for the price to continue rising... #比特币突破11万美元