A new wallet opened a 20x short position on BTC, worth approximately $120.3 million.

On July 11, according to on-chain analysis platform Lookonchain (@lookonchain), a newly created wallet 0x89Da withdrew 12,000,000 $USDC from Bybit and transferred it to Hyperliquid, then opened a short position with 20x leverage, shorting 1,021 $BTC (approximately $120.3 million). [Deep Tide TechFlow]