A bitcoin whale on Hyperliquid opened a long position of 911.55 BTC, approximately 70 million dollars, with a 40x leverage. With bitcoin at 77,150 dollars, this position is less than 1% from its liquidation price which is 76,308.60 dollars. Meanwhile, Michael Saylor posts a laconic tweet: “Just buy Bitcoin.”. Here is what this situation reveals about the current volatility of the crypto market.