The Hyperliquid position is valued at about $20.69 million and carries 20x cross-margin leverage.
The low probability of Bitcoin reaching $200,000 by 2026 reflects tempered market expectations and a shift towards more conservative forecasts. Prediction markets give Bitcoin a 2% shot at $200,000 in 2026, a record low.
The round follows increased international demand for Meanwhile's Bitcoin life insurance policies amid broader macro instability.
Long positions accounted for about $1.05 billion of the forced closures as Bitcoin recovered toward $82,500.
The recent Bitcoin downturn highlights the volatility and risks in crypto markets, impacting investor confidence and broader financial stability. Bitcoin slides toward $82.5K as over $2.4 billion in crypto liquidations hit longs.
Bitcoin was holding around ,500 on Friday, trying to claw back ground after a rough Thursday that sent it sliding to ,350.
U.S. bitcoin spot ETFs returned to net inflows on Oct. 9 with $21.13 million added, led by IBIT and HODL. Cumulative net inflows stood at $57.11 billion.
Bitcoin closed at $82,546.32 on Oct. 9, while U.S. spot Bitcoin ETFs recorded $729 million in combined net outflows over two sessions and OKX disclosed a $25 billion pre-money valuation.
In this week's edition of the weekly recap, Bitcoin lost its early-October gains as U.S. exchange-traded funds recorded heavy withdrawals, while the Treasury abandoned two proposed crypto reporting rules.
The selective inflow into Bitcoin ETFs amid broader outflows suggests a cautious investor sentiment, highlighting Bitcoin's relative appeal. Bitcoin spot ETFs see $21M in net inflows on October 9.
Binance spot-market buy orders reached $11.61 million against $7.66 million in sell orders, while Bitcoin traded at $82,840.
Bitcoin's annualized volatility is about 46% year to date, but it has posted 10 three-sigma daily moves through Oct. 9, compared with eight during all of 2018.