According to monitoring by on-chain and derivatives tracker HyperInsight, high-profile trader Huang Licheng has significantly increased his cryptocurrency long positions. His Bitcoin long exposure has reached approximately $14.5 million with leverage exceeding 40x, while his Ethereum long position is valued at roughly $23.3 million with 25x leverage. The Bitcoin position was opened around $76,357 with a liquidation price at approximately $72,904.5, indicating that a drawdown of roughly 4.5%–5% from entry would trigger forced closure. Recent data from HyperInsight confirms that these positions were established on May 1, with the trader maintaining his substantial exposure across both major cryptocurrencies.
As reported by HyperInsight, the Bitcoin position faces significant leverage risk with the current setup. The data indicates that Huang has repeatedly used 40x BTC leverage in recent weeks, sometimes experiencing unrealized drawdowns north of 60% when volatility spiked. The Ethereum position, opened around $2,311.63, has a liquidation threshold near $2,202.7, providing only a 4.7% buffer before forced closure if prices move against him. Previous reports from PANews and Phemex showed Huang steadily ramping his ETH exposure over March and April, at times holding thousands of ETH in 25x longs with liquidation bands just a few percentage points below spot.
According to Phemex estimates from mid-April, Huang's combined BTC and HYPE positions alone were valued at over $56.5 million in notional value, with additional tens of millions tied up in ETH longs. A later breakdown from PANews pegged his outstanding longs at approximately $79.16 million, split between about 555 BTC (around $42.76 million), 15,600 ETH (about $35.85 million), and a smaller HYPE allocation. The positions, taken on derivatives venue Hyperliquid, put tens of millions of dollars in notional exposure at risk if Bitcoin and Ethereum see even mid-single-digit pullbacks from current levels.
