AguilaTrades, a high-risk cryptocurrency trader, has returned to Hyperliquid after more than six months of inactivity, depositing approximately 499,000 USDC on October 8, 2026. According to blockchain tracker Lookonchain, the trader used the deposit to open a 40x leveraged long position on 200 Bitcoin, worth roughly $16.58 million.
The position reportedly had an entry price near $82,906 and a liquidation price of $81,466.75, leaving a margin of only about $1,439 per Bitcoin. Because the trade uses cross margin, the account's available funds can be drawn upon if the market moves against the position. Hyperliquid may automatically close the position if Bitcoin reaches the liquidation level.
The comeback follows a decline in Bitcoin below $83,000, amid higher US Treasury yields and rising oil prices. The trader's history adds to the risk: AguilaTrades has been liquidated 33 times and has accumulated more than $37.64 million in losses. In mid-2025, the wallet moved roughly $39 million USDC from Bybit to Hyperliquid and lost more than $35 million within two weeks.
The new position also comes during wider market stress, with reports of over $555 million in forced liquidations and about $201 million in Ethereum long liquidations on October 7. New transfers from Bybit and Circle-linked wallets funded the October 8 position. Public onchain tracking of Hyperliquid means traders can monitor whether AguilaTrades adds margin, reduces exposure, or exits the position.
