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Someone opened a $38.07M 20x BTC long position—600 BTC—instantly becoming the 6th-largest position on Hyperliquid. Take-profit set at $65K and $66K, stop-loss at $60K. The problem is, the current market isn’t bullish or bearish—it’s just ranging. Opening a 20x position in a choppy range is like going all-in on every hand at the poker table. You don’t even need to pick the wrong direction; just the wicks alone are enough to stop you out twice. In a range, the ones who survive the longest aren’t the ones with the heaviest bets—they’re the ones who can wait it out. #Bitcoin