$224,765,700 BTC·ETH short, Hyperliquid address

A single Hyperliquid address holds combined BTC and ETH short positions with a notional value of $224.77 million, comprising a $150 million bitcoin short and a $74.77 million ether short, according to MarsBit. The figures reflect contract notional rather than margin posted or spot sold, and the original source did not disclose when the positions were first observed or how they were calculated. The concentration is notable because Hyperliquid is a decentralized perpetuals venue where large directional bets can signal sentiment and expose liquidity to sharp moves. Traders will watch whether the address adds to or unwinds the shorts, and how BTC and ETH price action against these levels affects funding and liquidation risk on the platform.