According to @lookonchain, BTC broke above 122,000 USD as whale address 0x5D2F deposited 6 million USDC into Hyperliquid to avoid liquidation; the address holds a 1,266.84 BTC position (~154 million USD) with a stated liquidation price of 127,780 USD and an unrealized loss of 12.5 million USD (source: @lookonchain on X; Hypurrscan address data). The 127,780 USD level marks the liquidation threshold for this large position on Hyperliquid and is the key risk level cited for address 0x5D2F (source: @lookonchain on X; Hypurrscan).