Across both phases, the wallet sold about $122 million of $BTC at a combined average near $64,281. Nine minutes before the last sale, the position still carried a listed liquidation price near $61,605 while Hyperliquid's $BTC mark was about $64,149. The final trades filled no lower than $63,876.
A post-sale check showed the wallet was empty, wiping out its $61,605 liquidation level before Bitcoin ever reached it.
The exit removed one visible leveraged position without establishing a price floor.
Public Hyperliquid liquidation levels often act as account-specific market markers, but they are not fixed support levels or forecasts. In this case, the marker ceased to apply when the wallet closed.
Open interest remains large, but comparable venues declined
Substantial derivatives exposure remained elsewhere. Early Monday, Hyperliquid showed about 38,750 $BTC of open interest and positive hourly funding near 0.00071%. CoinGlass reported about $47.46 billion in aggregate Bitcoin open interest, with $34.06 billion in futures volume versus $2.35 billion in spot volume.
Over the comparable 23-hour window, Binance BTCUSDT open interest fell 0.67% in $BTC terms, while Bybit's linear BTCUSDT open interest declined 4.64%.
Bitcoin market data showed $BTC trading near $64,200, down 0.4% over 24 hours. CryptoSlate's latest market analysis also found that weak spot demand and unconfirmed ETF demand had left the recovery unfinished.
The exit, therefore, points to concentrated de-risking rather than a market-wide expansion of leverage. The $61,605 marker no longer applies as a psychological or strategic target.
If Bitcoin weakens, liquidation pressure would have to come from positions that remain open across venues.
cryptoslate.com
