According to monitoring shared by on?chain and derivatives tracker HyperInsight, high?profile trader Huang Licheng has sharply increased his Bitcoin long exposure, pushing his total $BTClong position to around $14.5 million with more than 40x leverage.

HyperInsight flags fresh $BTCand $ETHleverage from Huang Licheng

The data indicate an average opening price near $76,357, with a liquidation price at approximately $72,904.5, implying that a drawdown of roughly 4.5%–5% from entry would be enough to wipe out his margin and trigger forced closure on the position.

HyperInsight and related feeds have consistently tracked Huang’s activity on the Hyperliquid platform in recent weeks, noting that he has repeatedly used 40x $BTCleverage, sometimes seeing unrealized drawdowns north of 60% on earlier attempts when volatility spiked.

25x $ETHlong adds another $23.3m in risk

Alongside the Bitcoin ($BTC) bet, Huang is also running a large 25x leveraged Ethereum long, now worth roughly $23.3 million.
Per the latest HyperInsight snapshot, that position was opened around $2,311.63 with a liquidation threshold near $2,202.7, giving him barely a 4.7% buffer before the trade is forcibly closed if price moves against him.

Previous reports from PANews and Phemex showed Huang steadily ramping his $ETHexposure over March and April, at times holding thousands of $ETHin 25x longs with liquidation bands just a few percentage points below spot.

More recently, Phemex highlighted that he had placed sizable profit?taking orders between $2,365 and $2,425 while running what it described as the largest $ETHlong on Hyperliquid, valued around $32.8 million at 25x leverage.

A leveraged book that can move—and be moved by—the market

In mid?April, Phemex estimated Huang’s combined $BTCand $HYPEpositions alone at over $56.5 million in notional value, with additional tens of millions of dollars tied up in $ETHlongs.

A later breakdown from PANews pegged his outstanding longs at roughly $79.16 million, split between about 555 $BTC(around $42.76 million), 15,600 $ETH(about $35.85 million), and a smaller $HYPEallocation—illustrating the scale at which he is willing to deploy leverage across majors and smaller caps.

Such concentrated, high?leverage positioning matters for other traders because it creates both a potential source of forced flow—if $BTCor $ETHtouch his liquidation levels—and a sentiment signal, given Huang’s track record of stringing together profitable trades when momentum is with him.

For risk?managed participants, the takeaway is straightforward: when prominent accounts are running 25x–40x leverage with liquidation bands just a few percent away, even relatively routine price swings can cascade into outsized liquidations, temporarily amplifying volatility on venues like Hyperliquid and beyond.

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