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🚨 $BTC LEVERAGE IS STACKING UP
Around $7.1B in BTC perpetual exposure is currently open on Hyperliquid.
That’s obviously not the entire market, but Hyperliquid has become a major perp venue, and with positions recorded onchain, it gives us a useful snapshot of where leverage is concentrated.
I mapped the liquidation levels for roughly 50% of the open positions:
📈 A 10% BTC move higher could wipe out around $305M in shorts.
A 10% move lower could hit roughly $186M in outflows.
#DailyOrbit
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