Hyperliquid wallet opens ~$100.3M 23x ETH short, liquidation at $2,149.84

A trader opened a large bearish Ethereum derivatives position on Hyperliquid, shorting about 47,604 ETH with 23x cross leverage on May 25. The trade’s average entry was $2,094.92 and its liquidation level was set at $2,149.84, leaving roughly $33 of room when ETH traded near $2,116. The position was showing an unrealized loss of more than $600,000 as traders watched for a move toward key resistance.