Trader nets $176,600 profit after $105M BTC long position on Hyperliquid

According to Arkham, a trader identified as 0x344 opened a $105.39 million BTC long position with 20x leverage on the Hyperliquid platform over two days. The position reached a peak unrealized profit of $2.44 million when BTC hit $87,200. Following a price pullback triggered by U.S. Treasury yields reaching 5%, the trader closed the entire position for a final realized profit of $176,600.