According to BlockBeats , on August 5th, a new address starting with 0xff84 went all-in with 40x leverage to short 1600 BTC, with an average entry price of $64,202.4 and a position value of approximately $102 million.
The address has now placed eight "stop-loss only" market buy orders, each planning to buy back 200 BTC, covering all short positions. Its latest operation increased the initial stop-loss amount from 100 BTC to 200 BTC, with the trigger price set at $64,868, corresponding to a notional amount of approximately $12.974 million.
It's worth noting that the initial stop-loss price is only $23.5 lower than the current liquidation price of $64,891.5, a difference of less than 0.04%. If BTC continues to rise, this address plans to close out 12.5% of its position before the liquidation line, with subsequent stop-loss trigger prices gradually moving upwards, reaching a maximum of $67,023.
As of press time, BTC is currently trading at approximately $64,202, and the short position is nearing break-even; the account equity is approximately $2.401 million, with an additional 2.47 million USDC in spot trading.
On-chain traceability shows that the account exhibits clear characteristics of a temporary segregated transaction address. Currently, all visible funds originate directly from the OKX hot wallet, and no other self-custodial addresses confirmed to be controlled by the same entity have been found.
This morning, the address received approximately 2.4436 million USDT0 and 0.9995 ETH from two OKX hot wallets, subsequently completed the exchange, and deposited approximately 2.4415 million USDC into Hyperliquid in two separate transactions. After the deposit was completed, it quickly established the aforementioned 40x BTC short position and covered the entire position with eight stop-loss orders.