According to @OnchainLens, an on-chain tracked wallet deposited $1.9M USDC into HyperLiquid after two months and flipped its BTC long to a 3x short now valued at $12.95M, with the activity visible on CoinMarketMan HyperTracker for wallet 0xb798aef79972ce8f73d47b9ebbcda6bbb7ec4fbf (source: Onchain Lens on X, Jan 7, 2026; CoinMarketMan HyperTracker). This reflects a leveraged directional reversal in BTC perp exposure on HyperLiquid, quantified by the 3x short position and current valuation shown on the tracker (source: CoinMarketMan HyperTracker; Onchain Lens). Traders tracking whale derivatives flows can reference these data points to monitor short-side positioning on HyperLiquid’s BTC market (source: Onchain Lens; CoinMarketMan HyperTracker).

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 @dydxfoundation, the community approved extending the 100% fee discount, making BTC and SOL perpetual contracts free to trade on dYdX through January 2026; source: dYdX Foundation on X https://twitter.com/dydxfoundation/status/2005530092748013825 and Mintscan proposal 332 https://www.mintscan.io/dydx/proposals/332. The governance vote passed under proposal 332 and specifically covers BTC and SOL perpetual markets on the dYdX chain; source: dYdX Foundation on X https://twitter.com/dydxfoundation/status/2005530092748013825 and Mintscan proposal 332 https://www.mintscan.io/dydx/proposals/332. For traders, this means zero trading fees on BTC and SOL perps during the stated period, directly lowering transaction costs on dYdX; source: dYdX Foundation on X https://twitter.com/dydxfoundation/status/2005530092748013825.

According to @OnchainDataNerd, a trader with over $10M realized PnL opened a 3x BTC long worth approximately $84.19M on Hyperliquid, signaling a large directional bet in BTC perpetuals; source: @OnchainDataNerd on X https://twitter.com/OnchainDataNerd/status/1994302290195566973. The position and related activity can be tracked via the provided on-chain address on Hypurrscan, enabling real-time monitoring of fills and changes; source: Hypurrscan address https://hypurrscan.io/address/0x0ddf9bae2af4b874b96d287a5ad42eb47138a902. At 3x leverage, the disclosed notional implies roughly $28.06M of initial margin backing $84.19M long exposure, concentrating substantial risk on a single account; source: calculation based on @OnchainDataNerd figures https://twitter.com/OnchainDataNerd/status/1994302290195566973 and Hypurrscan address https://hypurrscan.io/address/0x0ddf9bae2af4b874b96d287a5ad42eb47138a902. Traders can follow subsequent position adjustments and potential de-risking via the same Hypurrscan address to gauge flow impact on BTC perps liquidity; source: Hypurrscan address https://hypurrscan.io/address/0x0ddf9bae2af4b874b96d287a5ad42eb47138a902.

According to @OnchainLens, over the past three days a whale deposited $23M USDC into HyperLiquid to avoid liquidation on a 20x BTC short position valued at $249M. Source: Onchain Lens on X. The position currently shows a $21.5M unrealized loss but has received $7M in funding payments during the market rebound. Source: Onchain Lens on X. The position reference and wallet tracking are cited via the CoinMarketMan HyperTracker page mentioned by @OnchainLens. Source: CoinMarketMan HyperTracker.

According to @MilkRoadDaily, Binance BTC futures have recorded about $700 trillion in cumulative trading volume—roughly six times global GDP—making it one of the most actively traded markets globally (source: @MilkRoadDaily). For traders, this scale indicates deep liquidity and high turnover in BTC perpetuals on Binance, supporting tighter spreads but also faster move propagation during volatility (source: @MilkRoadDaily).