A Hyperliquid wallet monitored by Lookonchain experienced the forced closure of a 1,650 ETH position early on Oct. 15, resulting in approximately $269,225 in realized losses exclusive of fees. The liquidation occurred within a series of 232 forced fills recorded between 3:22:25 a.m. and 3:24:32 a.m. BST. Seven minutes after the final forced fill, the same wallet reopened a long position, increasing its ETH exposure to 2,500 ETH by 1:16 p.m. BST. The trader had previously closed 4,000 ETH voluntarily between Oct. 14 at 2 p.m. BST and the forced-close window, realizing about $302,312 in losses before fees. Of that amount, 250 ETH was closed during the forced-close period. The wallet accumulated a 320 ETH long by 3:56 a.m. BST at an average entry price near $2,355.53, later expanding to 2,500 ETH at an average price around $2,370.34 by afternoon. A separate transaction showed 250,000 USDC deposited into the wallet’s spot balance at 10:48 a.m. BST. Hyperliquid’s liquidation mechanism permits remaining collateral to persist if margin requirements are restored through order-book activity, allowing continued trading after forced closures. Earlier in August, CryptoSlate had documented a similar 2,500 ETH long with a $1,859.15 liquidation price. During the same period, Ethereum open interest rose 2.3% on Binance while its dollar value declined 6.6%. Bitcoin’s $80,000 buy wall coincided with heightened liquidation risk, and US spot Ether ETFs recorded $129.5 million in net outflows on Oct. 14, alongside $261.4 million in Bitcoin ETF withdrawals. ETH traded near $2,362.88 in a 1:14 p.m. BST snapshot, reflecting broader market pressure from dollar strength and rising rate-hike expectations.