Bitcoin Whale Voids $61,605 Liquidation Threat — $122M Sold
By John Nada·Jul 20, 2026·3 min read
A Bitcoin whale avoids a $61,605 liquidation by closing a 40x long, selling $122M. Open interest remains high.
A Hyperliquid Bitcoin whale has managed to avoid a significant liquidation threat of $61,605 by completely closing a 40x long position, according to CryptoSlate. The whale, at the peak, expanded its position to 1,897.74 BTC before exiting entirely. This move effectively cleared a major risk point, leading to a $122 million sale.
The whale's actions illustrate a tactical maneuver to de-risk rather than an attempt to expand market leverage. By closing the position, the whale removed a visible leveraged risk point that had become a significant marker in the market. The $61,605 liquidation level, which had been a clear target, ceased to exist as the whale exited before Bitcoin's price reached that level.
Despite the elimination of this particular liquidation risk, Bitcoin's overall open interest remains substantial. CryptoSlate reported that Hyperliquid's platform still displays around 38,750 BTC in open interest, with a positive hourly funding rate of approximately 0.00071%. CoinGlass further noted that the aggregate Bitcoin open interest stands at a whopping $47.46 billion. The figures highlight that while one significant risk was mitigated, the broader market still holds considerable exposure.
The whale's exit strategy is indicative of a broader trend of de-risking within the market. On July 19, a public Hyperliquid wallet valued at about $107 million took a decisive step by fully exiting its 40x Bitcoin long by July 20. Initially, the whale's position was 1,660 BTC, with a liquidation price near $63,123. However, it added another 235 BTC early on July 20, bringing the total to 1,897 BTC.
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The whale executed its sales in two phases. First, it sold 903.48 BTC at an average price near $64,666, leaving a balance of 994 BTC. Subsequently, at 06:33 UTC, it closed the remaining position at an average price of approximately $63,931, generating $63.56 million in closed trades. These trades were completed at prices no lower than $63,876.
Following the complete exit, the public wallet was found to be empty, effectively erasing the $61,605 liquidation target. This strategic move underscores the fluid nature of Bitcoin's market dynamics, where even significant positions are subject to recalibration based on market conditions.
Meanwhile, the Bitcoin market showed some signs of cooling, with the price hovering around $64,200, reflecting a slight decrease of 0.4% over a 24-hour period. CryptoSlate attributed the lukewarm recovery efforts to weak spot demand and unconfirmed ETF interest, which have not provided the necessary momentum for a robust price rebound.
The broader context of the market reveals a decline in open interest on major platforms such as Binance and Bybit. During a comparable 23-hour window, Binance's BTCUSDT open interest fell by 0.67% in BTC terms, while Bybit's linear BTCUSDT open interest declined by 4.64%. These reductions suggest a cautious approach by traders, potentially spurred by the whale's de-risking strategy.