According to @lookonchain, address 0xc613 deposited 2M USDC to Hyperliquid and opened a 40x short on 358.85 BTC with $33.24M notional, confirmed by Hypurrscan address 0xc613bd93C62e62bF3E583C36aE8C4118f1FB2456 perps data (source: @lookonchain on X, Jan 7, 2026; hypurrscan.io/address/0xc613bd93C62e62bF3E583C36aE8C4118f1FB2456#perps). Address 0xFB78 deposited 15.5M USDC and opened a 20x long on 980 BTC with $90.7M notional on Hyperliquid, as shown on Hypurrscan address 0xFB78AA8F38843629e89951D9db6FdC398d75e0A3 perps data (source: @lookonchain on X, Jan 7, 2026; hypurrscan.io/address/0xFB78AA8F38843629e89951D9db6FdC398d75e0A3#perps). The reported sizes imply entry prices near $92,600 per BTC for both positions and a net long notional of about $57.46M across these two whales, derived from the figures in the thread (source: @lookonchain on X, posts 2008782177820176838 and 2008780895306854436). @lookonchain describes this as the BTC long–short battle resuming on Hyperliquid, indicating substantial leveraged positioning on both sides (source: @lookonchain on X, Jan 7, 2026).

According to @AltcoinGordon (source: X post on Nov 9, 2025), trader James Wynn closed a 40x short position on BTC with a realized profit of $85,380. According to @AltcoinGordon (source: X post on Nov 9, 2025), the post also reports Wynn’s total PnL at -$21,914,194.51. According to @AltcoinGordon (source: X post on Nov 9, 2025), the outcome was characterized as “should have stayed bullish,” signaling a bullish framing of the trade result.

According to @OnchainLens, James Wynn closed his BTC 40x short with a realized profit of $85,380. According to @OnchainLens, despite this gain, Wynn still needs $21.9M to reach breakeven, highlighting a large cumulative PnL deficit. According to @OnchainLens, the $85,380 profit is roughly 0.39% of the reported $21.9M breakeven gap, showing minimal impact on his overall deficit. According to @OnchainLens, the trade details are viewable via hyperbot.network for address 0x5078..., confirming the position was closed and removing liquidation risk from that specific short.