Whale Bets $29.85M on Bitcoin with 20x Leverage, Driving Massive Position Growth

A major crypto player has made headlines with a high-stakes bet on Bitcoin, utilizing over $29.85 million in USDC to drive a 20x long position. This wallet’s activity on the Hyperliquid decentralized perpetuals protocol has caught attention from analysts as it rapidly increased its BTC holdings by nearly $10 million within just two days. The move is fueling speculation about institutional confidence or risky, high-volatility trading.