Interestingly, address 0x931…ae7a3 opened a long position of 300 $BTC on Hyperliquid seven hours ago, directly ranking in the top 5 BTC long positions on the platform.

This order size is not small—$26.14 million in long positions, with an average entry price stuck at $87,965.3. So far, it has an unrealized loss of $239,000, with a liquidation line set at $86,073.7, making the risk relatively manageable.

The most interesting part is this trader’s take-profit and stop-loss setup: the stop-loss is at $79,419 below, and take-profit is at $109,496 above. From this layout, he expects significant volatility in BTC within this range—selling in parts during dips and taking profits in parts during rises. The mindset is quite steady.

Whether such a large long position can lead the upcoming market trend depends on the subsequent price movements.