The largest holder of bullish positions in Hyperliquid's native token $HYPE is nearing liquidation after unrealized profits plummeted from a peak of $68.26 million to $27.59 million. Despite the massive drawdown, the trader has refused to close the position. Over the past two days, the whale deposited 8.3 million USDC into Hyperliquid to bolster margin and avoid forced closure. The updated liquidation price now sits at $58.47, leaving little room for further downside before the position is wiped out.