A Hyperliquid trader has engaged in a short position of 333.9 million USD on Bitcoin at a price of 84,040.80 USD. Even though Bitcoin’s current price is 84,294 USD, the trader faces unrealized losses of 1 million USD due to high leverage.

With a 111% margin usage, there is significant risk associated with this position which could have a broader market impact if Bitcoin price continues against the trader. This situation recalls past trading that incurred large losses for the platform, prompting updated margin requirements.