Seven Hyperliquid Addresses Place $42.9 Million in Bitcoin Sell Orders

Seven addresses placed 90 limit sell orders for Bitcoin (BTC) on Hyperliquid Friday, Oct. 23, for a combined 510.22 BTC valued at about $42.9 million. The orders were priced from $83,400 to $85,112.

Five addresses holding long positions accounted for about $30.846 million in reduce-only sell orders, which are intended to lower existing positions. The largest reduce-only group covered 150 BTC between $83,500 and $85,000 and was valued at about $12.638 million, or 29.5% of the value of all 90 orders. Another reduce-only order at $84,666 was valued at about $8.365 million.

One address with a 124 BTC long position placed a $5.349 million order at $83,583 to sell 64 BTC. If the position remained unchanged and the order filled in full, the long would shrink by about 51.6%.

An account with no BTC position placed sell orders at $83,700 and $83,820 worth a combined $6.701 million. The account planned to use the orders to open an 80 BTC short position after a rebound.